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2 Apr 2014
EUR/USD outlook still neutral - OCBC
FXStreet (Bali) - According to Emmanuel Ng, FX Strategist at OCBC Bank, EUR/USD outlook remains largely neutral.
Key Quotes
"Despite flat to mixed EZ manufacturing PMIs, the EUR climbed against the greenback as well as its peers on Tuesday with investors still looking for the ECB to stand pat on Thursday. The ECB’s Constancio noted on Tuesday that low inflation was a concern but there were currently no deflation risks. We stay largely neutral on the pair in the interim with the 55-day MA (1.3719) expected to provide near term support and 1.3850 likely to cap ahead of the ECB on Thursday."
Key Quotes
"Despite flat to mixed EZ manufacturing PMIs, the EUR climbed against the greenback as well as its peers on Tuesday with investors still looking for the ECB to stand pat on Thursday. The ECB’s Constancio noted on Tuesday that low inflation was a concern but there were currently no deflation risks. We stay largely neutral on the pair in the interim with the 55-day MA (1.3719) expected to provide near term support and 1.3850 likely to cap ahead of the ECB on Thursday."