Never underestimate Mario’s desire for a weaker euro - Societe Generale

There are two major meetings are coming in December: the Federal Reserve meeting and the European Central Bank meetings which will strongly affected on the direction of the currency movement. It is very important to understand about how the market will react, and this is what will make the month so interesting.

The first about the European Central Bank meeting on 3rd of December, 13:30 GMT:

• As Societe Generale forex strategist Kit Juckes wrote - never underestimate Mario’s desire for a weaker euro. "'Whatever it takes’ means exactly that, but it reinforces the sense that Mr Draghi is committed to further easing next month." he said.
• By the way, Vasileios Gkionakis from UniCredit is thinking that euro is already in oversold condition and does not expect any more weakness so long in the near future.

The Fed meeting on 16th of December, 19:00 GMT:

• Some analitycs are expected for interest rate to be increase for the first time since since 2006.
• Forex strategist Kit Juckes sees a strong US dollar through to the Fed meeting on the 16th with some "significant correction",  however, "the path of least resistance is for additional dollar strength."