FXStreet (Edinburgh) – Strategists at TD Securities reiterated its bearish stance on EUR/USD.
“Greek worries have added more noise to the picture but so far have not disrupted the broad macro picture much”.
“We may see less acceleration that we expected into the summer data, but surveys have not suggested any significant retrenchment”.
“Consumer spending, especially in autos, has been quite strong. We remain pessimistic over Greece both in the short- and long-term as there are festering issues which are not being addressed”.
“The EUR’s bear trend has moderated in the past few months as Eurozone data has improved”.
“We expect the ECB to continue with its QE process, however, providing ample reason to expect the EUR decline to resume in H2. We think weakness below 1.10/1.11 will trigger a pick up in the pace of the EUR decline”.
Strategists at TD Securities reiterated its bearish stance on EUR/USD…
(Market News Provided by FXstreet)