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4 Dec 2014
Euro remains downbeat – TDS
FXStreet (Barcelona) - The TD Securities Research Team note that euro remains downbeat due to Fed’s hawkish comments, with today’s focus revolving around the ECB meet for the currency pair.
Key Quotes
“The euro remains downbeat in the European session after the hawkish Fed comments overnight. However, at around 1.2315, levels are just above yesterday’s closing with limited vol.”
“On the contrary, equity markets are all in positive territory, with German, French and Dutch stocks leading the rise (+0.5/0.6%) in core Europe.”
“European yields are somewhat mixed with the belly of the curve outperforming the tails. Brent is stable at around $70pb, while gold is lower in the $1204/oz area. Last night, Brazil’s BCB increased the pace of tightening to 50bp as we expected, bringing the Selic rate to 11.75%.”
“Looking ahead, all eyes and ears will be on the ECB meeting and the related risks, though delivering sovereign bond buying sooner than expected would obviously dominate if it appears.”
Key Quotes
“The euro remains downbeat in the European session after the hawkish Fed comments overnight. However, at around 1.2315, levels are just above yesterday’s closing with limited vol.”
“On the contrary, equity markets are all in positive territory, with German, French and Dutch stocks leading the rise (+0.5/0.6%) in core Europe.”
“European yields are somewhat mixed with the belly of the curve outperforming the tails. Brent is stable at around $70pb, while gold is lower in the $1204/oz area. Last night, Brazil’s BCB increased the pace of tightening to 50bp as we expected, bringing the Selic rate to 11.75%.”
“Looking ahead, all eyes and ears will be on the ECB meeting and the related risks, though delivering sovereign bond buying sooner than expected would obviously dominate if it appears.”