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28 Feb 2014
Flash: EUR/USD eyes EZ CPI - OCBC
FXStreet (Bali) - According to Emmanuel Ng, FX Strategist at OCBC Bank, EUR/USD price action will be determined by EZ CPI numbers later today.
Key Quotes
"The EUR-USD may remain listless ahead of the ECB meeting next week although dollar-centric volatility cannot be discounted in the interim. Meanwhile, the ECB Draghi’s comments on Thu remained in line with his previous rhetoric, reiterating that there is currently no deflation although the central bank stands ready to act on in the event of further downside risks to price stability. Expect the pair to hover in the vicinity of 1.3700 pending the EZ CPI numbers later today (1000 GMT) with the support at the 55-day MA (1.3658) still holding and resistance still expected at 1.3775."
Key Quotes
"The EUR-USD may remain listless ahead of the ECB meeting next week although dollar-centric volatility cannot be discounted in the interim. Meanwhile, the ECB Draghi’s comments on Thu remained in line with his previous rhetoric, reiterating that there is currently no deflation although the central bank stands ready to act on in the event of further downside risks to price stability. Expect the pair to hover in the vicinity of 1.3700 pending the EZ CPI numbers later today (1000 GMT) with the support at the 55-day MA (1.3658) still holding and resistance still expected at 1.3775."