Ifo study this morning showed an optimistic mood in the German industry for the immediate future that gave a temporary boost to the euro, together with a further offer for sale, in which it looks like a managed order flow the market. Still have the feeling that the EUR / USD feels uncomfortable above 1.40, in addition, noise and European officials who were trying to express their doubts about the level of the currency. Until the noise from them is not so great, but whatever it was, they can do very little (from the ECB or the Finance Ministry they are) in order to influence the euro at the moment. Nevertheless, in a broader perspective, the markets remain highly concentrated on the probability of the new QE in the U.S. and it is still the factor that supports a pair of EUR / USD, along with short-term rates in the money market, which also move in favor of the euro (the spread of 3M is now 67 points in early October was 60 points).
Translate this page
