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EUR/USD: Weak US Data Supportive; Staying Long For 1.31 - Credit Agricole
We remain of the view that elevated speculative short positioning and further stabilizing monetary policy expectations will lead to a further correction higher in EUR/USD. Weaker than expected US retail sales should come to the detriment of both, inflation and growth expectations. This in turn should make a case of Fed members trying to dampen investors’ Fed rate expectations further. This stands in contrast to the ECB, which is unlikely communicating a more aggressive monetary policy stance anytime soon as more time is needed in order to evaluate the latest policy measures’ impact on the economy. Stabilising ... (full story)
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It's time we stop entertaining ourselves and start realizing ourselves!