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23 Feb 2015
What’s the sentiment around EUR/USD today? – BBH and OCBC Bank
FXStreet (Edinburgh) - EUR/USD continues to trade on the defensive at the beginning of the week, with Greece and today’s IFO as the main catalysts.
Analysts at BBH see occasional bullish attempts to add to the broader short recommendation: “the euro continues to chop around a $1.1250 and a $1.1450 range. We are more inclined to see modest upticks at the start of the new week as an opportunity to add to the short euro position, or increase hedge ratios, especially ahead of Yellen's testimony”.
In addition, FX Strategist Emmanuel Ng at OCBC Bank argued “We continue to expect headline risks (Eurogroup expected to sign off on the extension on Tuesday) being attached to the common currency in the interim and with the February German Ifo also due later today. We remain benched with regards to the pair’s near term prospects”.
Analysts at BBH see occasional bullish attempts to add to the broader short recommendation: “the euro continues to chop around a $1.1250 and a $1.1450 range. We are more inclined to see modest upticks at the start of the new week as an opportunity to add to the short euro position, or increase hedge ratios, especially ahead of Yellen's testimony”.
In addition, FX Strategist Emmanuel Ng at OCBC Bank argued “We continue to expect headline risks (Eurogroup expected to sign off on the extension on Tuesday) being attached to the common currency in the interim and with the February German Ifo also due later today. We remain benched with regards to the pair’s near term prospects”.