XE Market Analysis: Europe – Oct 15, 2015

The dollar has remained on a downer following yesterday’s set of soft U.S. data (negative prints in ex-auto retail sales and PPI), lowered guidance by Wall Street bellwether WalMart, and the net neutral Beige Book report on anecdotal economic evidence (for every bright spot in terms of auto sales, wages, etc., there was a dull one in terms of headwinds from the strong dollar, weak energy sector, etc). EUR-USD logged a seven-week peak of 1.1491. The Aug-26 peak at 1.1562 provides the next upside target.