USD, EUR, JPY, GBP, AUD: Outlooks For The Coming Week - Morgan Stanley
31 May 2015 00:39 EDT
"USD: The End of a Consolidation.
Bullish. The USD uptrend has continued, driven largely by technical but also supported by stronger US data. Heightened concerns about Greece have weighed on EURUSD, while USDJPY has broken out of its latest range. Both of these have spilled over into broader USD strength. At the same time, recent US data has been marginally stronger. We get a slew of data next week, and it will be key to see if this trend of improvement continues.
EUR: The End of the Correction.
Bearish. The EUR retracement is over, as concerns about Greece have risen. This should keep volatility surrounding European assets elevated, weighing on the currency. In addition, the results of the Spanish local elections increase the risks of political uncertainty going forward, which could also impact broader European asset volatility. Overall, we believe that EUR is likely to weaken over coming weeks.
http://www.efxnews.com/story/29156/u...morgan-stanley
31 May 2015 00:39 EDT
"USD: The End of a Consolidation.
Bullish. The USD uptrend has continued, driven largely by technical but also supported by stronger US data. Heightened concerns about Greece have weighed on EURUSD, while USDJPY has broken out of its latest range. Both of these have spilled over into broader USD strength. At the same time, recent US data has been marginally stronger. We get a slew of data next week, and it will be key to see if this trend of improvement continues.
EUR: The End of the Correction.
Bearish. The EUR retracement is over, as concerns about Greece have risen. This should keep volatility surrounding European assets elevated, weighing on the currency. In addition, the results of the Spanish local elections increase the risks of political uncertainty going forward, which could also impact broader European asset volatility. Overall, we believe that EUR is likely to weaken over coming weeks.
http://www.efxnews.com/story/29156/u...morgan-stanley