24 Jan 2014
Flash: EUR/USD supported on EZ economic strengthening - BTMU
FXstreet.com (Edinburgh) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that EUR/USD looks supported by strengthening Eurozone economic data.
Key Quotes
"The euro has also derived support against the US dollar yesterday from further evidence that the euro-zone economy continues to strengthen which at the margin may reduce the likelihood of further ECB monetary easing in the near-term although low inflation still remains the primary concern.”
“The improvement in the PMI surveys for January signalled according to Markit that real GDP growth in the euro-zone may accelerate up towards 0.3 to 0.4% in Q1."
Key Quotes
"The euro has also derived support against the US dollar yesterday from further evidence that the euro-zone economy continues to strengthen which at the margin may reduce the likelihood of further ECB monetary easing in the near-term although low inflation still remains the primary concern.”
“The improvement in the PMI surveys for January signalled according to Markit that real GDP growth in the euro-zone may accelerate up towards 0.3 to 0.4% in Q1."