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Feb 17 - 10:55 AM

EUR/USD: Staying Neutral To Slightly Bearish N-Term - Credit Agricole

By eFXdata  —  Feb 17 - 09:30 AM

Credit Agricole CIB Research maintains a neutral to slightly bearish bias on EUR/USD in the near-term.

"We keep our neutral to slightly bearish tactical outlook for EUR/USD...Focus this week would be on the February PMIs with investors looking for evidence that the double-dip recession is nearing an end," CACIB notes. 

"We note, however, that for the USD rebound to resume in earnest, we would need a less dovish message from the Fed. Evidence from the Fed minutes this week that they are turning less downbeat on the economy, further progress towards a more aggressive fiscal stimulus in the US Congress and more resilient retail sales data could be all triggers of a renewed rebound in UST yields and the USD," CACIB adds. 

 

Source:
Crédit Agricole Research/Market Commentary

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