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5 Aug 2013
Flash: EUR to move up – Societe Generale
FXstreet.com (Barcelona) - Sebastien Galy, strategist at Societe Generale notes we are back to yield seeking in a slow month, waiting for September and the next NFP release.
Key Quotes:
“If one wanted a starker contrast between Asia and Europe, PMI releases led the way”.
“Swedish PMI especially new orders were very strong in a country that is typically though off as a capex proxy”.
“The same positive surprise could be seen in the UK and to a far lesser extent in the Eurozone”.
“The combination should help EUR and its satellite currencies to continue drifting higher vs the USD”.
Key Quotes:
“If one wanted a starker contrast between Asia and Europe, PMI releases led the way”.
“Swedish PMI especially new orders were very strong in a country that is typically though off as a capex proxy”.
“The same positive surprise could be seen in the UK and to a far lesser extent in the Eurozone”.
“The combination should help EUR and its satellite currencies to continue drifting higher vs the USD”.