FXstreet.com (Barcelona) - The bloc currency has bounced off session lows below the 1.2940 mark on Monday, as risk-on trade remains subdued. Almost non-existent docket is helping in the downside, with the Ecofin meeting grabbing all the attention against a backdrop of rumours involving a Spanish bailout.
Senior Economist Frank Hensen at Danske Bank argues “We think there is more upside to EUR/USD this week, not least as the latest IMM data showed that the market is still speculative short EUR/USD”. The economist remarks that an eventual call for financial aid by Spain would be euro positive, removing some tail-risk from the single currency.
Senior Economist Frank Hensen at Danske Bank argues “We think there is more upside to EUR/USD this week, not least as the latest IMM data showed that the market is still speculative short EUR/USD”. The economist remarks that an eventual call for financial aid by Spain would be euro positive, removing some tail-risk from the single currency.
