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11 Feb 2014
Flash: EUR/USD remains buoyant as ECB dodges easing calls - UOB Group
FXStreet (Barcelona) - Lee Sue Ann, Market Strategist at UOB Group notes that after a pretty rough start to the year, EUR/USD was buoyant in the past week after the ECB warded off calls for further policy action.
Key Quotes
“ECB President Mario Draghi played the same tune at his press conference, saying said the Eurozone's moderate recovery is proceeding as expected, though risks continue to be on the downside. Draghi added that the Bank firmly reiterates its forward guidance, and noted that the ECB staff will be producing revised macroeconomic projections in early March.”
“This week, 4Q13 GDP readings are due. Also of interest will be the February Eurozone Sentix survey, and the ECB is also due to publish its February monthly bulletin, the preface of which should echo the dovish tone set by Draghi at the press conference last Thursday.”
“On the national front, Germany’s final inflation figures for January are due, alongside December industrial production figures for France and Italy, which would add a final touch to the overall Eurozone industrial production figure for December, rolled out on Wednesday.”
Key Quotes
“ECB President Mario Draghi played the same tune at his press conference, saying said the Eurozone's moderate recovery is proceeding as expected, though risks continue to be on the downside. Draghi added that the Bank firmly reiterates its forward guidance, and noted that the ECB staff will be producing revised macroeconomic projections in early March.”
“This week, 4Q13 GDP readings are due. Also of interest will be the February Eurozone Sentix survey, and the ECB is also due to publish its February monthly bulletin, the preface of which should echo the dovish tone set by Draghi at the press conference last Thursday.”
“On the national front, Germany’s final inflation figures for January are due, alongside December industrial production figures for France and Italy, which would add a final touch to the overall Eurozone industrial production figure for December, rolled out on Wednesday.”