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EUR Trading Outlook (15-04-2015)

EUR/USD
• Light short covering in Europe sees pair near 1.0575 at NY open
• US sales data & IMF US 2015 & 2016 GDP cuts see US yields & USD fall
• EUR/USD hits 1.0708 high, HFs & leveraged were noted USD sellers
• 1.0710/20 (daily low, 38.2 Fib of 1.136-1.0521) zone caps
• USD bounce late in day sees pair settle near 1.0655
• ECB meeting risk tomorrow but no major change expected

USD/JPY
• USD/JPY dived toward 119 & 118.94 Cloud base on soft US Retail Sales
• Sales data still up nicely v Feb & reaction to Hamada comments overdone
• Bigger risk is if US Q2 data don’t improve enough to revive Fed hike hopes
• Abe, Hamada, Kuroda in favor of steadier yen, not big rise; QQE3 if needed
• Weekly up TL at 119.27 key on Friday’s close, daily Cloud base before that
• Japan CU, IP & Kuroda speech tonight

Back to EUR Trading Outlook Archive

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