5 Nov 2013
Flash: EUR - Markets to scrutinize Draghi for signs of easing - Danske Bank
FXstreet.com (Barcelona) - Danske Bank strategists feel that the FX markets will be scrutinising the Draghi speech for any hints of further monetary stimuli in light of the low inflation numbers.
Key Quotes
“EUR/USD is trading relatively stable close to 1.35. However, given the latest move lower in EUR/USD, the risk is that Draghi is not going to say much, which might give some renewed support to the euro.”
“In Scandinavia we will closely follow the Riksbank speeches and not least industrial production. The Swedish ‘hard data’ have been surprisingly weak the past couple of months and yet another disappointment today could push EUR/SEK higher as it will fuel rate cut expectations in Sweden.”
“Note that crude oil has been trading below USD106 overnight. It has weighed especially on the Canadian dollar and EUR/NOK has also been pushed marginally higher.”
Key Quotes
“EUR/USD is trading relatively stable close to 1.35. However, given the latest move lower in EUR/USD, the risk is that Draghi is not going to say much, which might give some renewed support to the euro.”
“In Scandinavia we will closely follow the Riksbank speeches and not least industrial production. The Swedish ‘hard data’ have been surprisingly weak the past couple of months and yet another disappointment today could push EUR/SEK higher as it will fuel rate cut expectations in Sweden.”
“Note that crude oil has been trading below USD106 overnight. It has weighed especially on the Canadian dollar and EUR/NOK has also been pushed marginally higher.”