9 Jun 2014
EUR/USD: weighed by US economy, ECB easing bias - UBS
FXStreet (Córdoba) - The UBS analyst team thinks that Friday's US nonfarm payrolls data was supportive for the USD. Thus, UBS expects strengthening US economy and ECB easing bias to push down the EUR/USD.
Key Quotes
“May labor market data from the US showed non-farm payrolls grew by 217k, after 282k in April. This was almost in line with expectations and indicates that the US economy is on a solid path to improvement”.
“Meanwhile, we believe that the market still needs time to digest the ECB news from Thursday”.
“The EUR/USD is still trading around 1.36, but we expect more strengthening from the US economy and the continued easing bias of the ECB to push down EUR/USD.”
Key Quotes
“May labor market data from the US showed non-farm payrolls grew by 217k, after 282k in April. This was almost in line with expectations and indicates that the US economy is on a solid path to improvement”.
“Meanwhile, we believe that the market still needs time to digest the ECB news from Thursday”.
“The EUR/USD is still trading around 1.36, but we expect more strengthening from the US economy and the continued easing bias of the ECB to push down EUR/USD.”