9 Apr 2015
EUR/USD: 1.0710 next key level – SG
FXStreet (Barcelona) - Kit Juckes of Societe Generale, comments that EUR/USD has broken below 1.08 ahead of the Greece’s repayment deadline to the IMF today, and 1.0710 will be the key level to the downside for the pair.
Key Quotes
“EUR/USD has broken 1.08 ahead of Greece's expected payment of money due to the IMF. The focus will move back to negotiations about new funds to facilitate bigger payments in the next couple of months.”
“1.0710 (mar 31 low) is the next level to watch, though if you take a step back, the bounce above 1.10 has failed for a second time and we're in a range between there and mid-March lows. We hit those when 2-year Note yields were close to 75bp, 20bp above current levels, and EUR/USD ‘parity party' invitations probably shouldn't be posted until we see those levels again - which requires a definite uptick in US data.”
Key Quotes
“EUR/USD has broken 1.08 ahead of Greece's expected payment of money due to the IMF. The focus will move back to negotiations about new funds to facilitate bigger payments in the next couple of months.”
“1.0710 (mar 31 low) is the next level to watch, though if you take a step back, the bounce above 1.10 has failed for a second time and we're in a range between there and mid-March lows. We hit those when 2-year Note yields were close to 75bp, 20bp above current levels, and EUR/USD ‘parity party' invitations probably shouldn't be posted until we see those levels again - which requires a definite uptick in US data.”