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3 Apr 2013
Forex Flash: EUR/USD year-end target at 1.25 – Scotiabank
FXstreet.com (Barcelona) - The euro remains buoyant around 1.2845/50, lifted by the increasing risk appetite after disappointing data from the US ADP and ISM Non Manufacturing.
Camilla Sutton, Strategist at Scotiabank, expects the ECB to leave the refi rate unchanged in its monthly gathering tomorrow “and that President Draghi sounds vaguely more dovish than his previous press conference (particularly considering weak PMIs and a new record high in the 12% unemployment rate) but that he is slow to turn outright dovish, in turn weighing on the outlook for the Eurozone and EUR. We expect EUR to trend lower this year, closing at 1.25”.
Camilla Sutton, Strategist at Scotiabank, expects the ECB to leave the refi rate unchanged in its monthly gathering tomorrow “and that President Draghi sounds vaguely more dovish than his previous press conference (particularly considering weak PMIs and a new record high in the 12% unemployment rate) but that he is slow to turn outright dovish, in turn weighing on the outlook for the Eurozone and EUR. We expect EUR to trend lower this year, closing at 1.25”.