TJ Marta's  Instablog

TJ Marta
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  • FX Weekly Weeklies: EUR To Fall As Data Alters ECB Path 0 comments
    Nov 1, 2013 12:51 PM

    ECB rate cut may come as early as next week after disappointing data.

    • Citigroup's economic surprise index has fallen to low associated with EUR/USD around 1.30

    • Latest disappointments include:
    • Euro zone Services PMI, composite PMI, unemployment, CPI
    • German services PMI, IFO, CPI, retail prices, import prices,
    consumer confidence
    • France services, manufacturing PMIs

    • Significant bearish weekly technical indicator developments:
    • EUR/USD target 1.2750, -5.5%
    • EUR/NOK target 7.7283, -5.8%
    • EUR/CAD target 1.30, -7.7%
    • EUR/MXN target 16.48 -6.6%

    • NOTE: TJ Marta is an FX strategist who writes for First Word. The observations he makes are his own.

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