The firmly bearish EUR/USD theme remains in place, notes the FX Strategy at RBS.
Key Quotes
"The firmly bearish EUR/USD theme remains in place, and we continue to favour EUR/USD to extend losses ahead of the January 22nd ECB meeting, when we expect a sovereign QE program will be announced. The data calendar is on the lighter side next week. Revisions to the already-released December estimates of German and Euro-area CPI are notable."
"The main events to watch in the Euro-area next week, as a result, may be political. The European Court of Justice (ECJ) is due to offer an unbinding opinion on the ECB’s 2012 OMT program. That unused bond buying program, should it face scrutiny, may shake up expectations for the ECB to announce a new bond-buying program as soon as this month. With the Greek general election on January 25th approaching, any new Greek opinion polls will be notable as well."The firmly bearish EUR/USD theme remains in place, notes the FX Strategy at RBS.
Key Quotes
"The firmly bearish EUR/USD theme remains in place, and we continue to favour EUR/USD to extend losses ahead of the January 22nd ECB meeting, when we expect a sovereign QE program will be announced. The data calendar is on the lighter side next week. Revisions to the already-released December estimates of German and Euro-area CPI are notable."
"The main events to watch in the Euro-area next week, as a result, may be political. The European Court of Justice (ECJ) is due to offer an unbinding opinion on the ECB’s 2012 OMT program. That unused bond buying program, should it face scrutiny, may shake up expectations for the ECB to announce a new bond-buying program as soon as this month. With the Greek general election on January 25th approaching, any new Greek opinion polls will be notable as well."The firmly bearish EUR/USD theme remains in place, notes the FX Strategy at RBS.
