EUR/USD: Looking To Turn Positive Over Rest Of Summer If it holds above 1.15 This Week – SocGen

EUR/USD is awaiting the ECB meeting and US GDP, moving up along the way. What’s next later on?

Here is their view, courtesy of eFXdata:

Societe Generale Cross Asset Strategy Research discusses EUR/USD tactical outlook and flags a scope for turning positive on the pair over the rest of the Summer if prices manage to not move back towards 1.15 into the key risk events this week. 

“Today’s focus will come much later in the day when Jean-Claude Juncker and Cecilia Malmstrom meet Donald Trump…If President Trump reads the IMF External sector report before meeting EC President Juncker, he might call for EUR strength,” SocGen notes.

EUR/USD remains locked into its narrow range but if it makes it through today’s meeting, tomorrow’s ECB meeting and Friday’s US GDP data without moving back to 1.15,.. going to feel positive about the outlook for the rest of the summer.” SocGen argues.

For lots more FX trades from major banks, sign up to eFXplus

By signing up to eFXplus via the link above, you are directly supporting Forex Crunch.

Leave a Reply