Market will turn back to US fundamentals – TDS

By FXStreet FXStreet (Guatemala) – Following the ECB showdown and China’s cut, analysts at TD Securities explained that they think the market’s attention will soon revert back to a focus on USD fundamentals.

Key Quotes:

“There, the near-term picture remains mixed at best, in our view. Unless we see a rapid and conclusive firming in US and global growth data that puts a rate hike back on the agenda for the December FOMC meeting, EUR/USD may find it difficult to sustain further rapid declines from here. In keeping with our end-2015 forecast of 1.10, our base case sees spot remaining within the 1.08-1.11 range over the next several weeks.”

“A close below crucial support at 1.0809 would herald a move lower, including a potential re-test of the March lows. Ultimately, however, we think sustained weakness here needs to be supported by USD strength and not just EUR weakness.”
For more information, read our latest forex news. …read more

Source:: FX Street