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Sep 20 - 12:55 PM

EUR/USD: Sentiment For Highs Has Faded As Tactical Longs Likely Squared Positions - Danske

By eFXdata  —  Sep 20 - 10:45 AM

 Danske Research maintains a bearish bias on EUR/USD in the near-term.

"Generally, the market continued where last week left off. Dollar was broadly stronger, rates higher and equities choppy. In our view, this is not particularly surprising given the large amount of central bank meetings in g10, this week. As such, markets appear to be in a wait-and-see mode but seem to expect a hawkish tone," Danske notes. 

"EUR/USD continues to hover around the 1.00 mark but sentiment in regards to testing new tactical highs appear to have faded. On the latter, further weakness in Chinese-linked assets and broad Asian sentiment as well as last weeks' strong US CPI reading probably has given way to squaring positions," Danske adds. 

Source:
Danske Research/Market Commentary

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