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24 Aug 2015
EUR/USD: 1.1000-1.1500 dependent on Fed - Nomura
FXStreet (Barcelona) - Analysts at Nomura commented on the conditions surrounding the euro and identify key levels subsequent of positioning around the Federal Reserve.
Key Quotes:
"We eliminated long USD exposure in our portfolio on 14 August because of uncertainty about the Fed’s ability to deliver lift-off in the near term, and our revised forecast pencils in some additional upside in EUR/USD in Q3."
"Whether EUR/USD can resume a downward path is crucially dependent on signals from the Fed. In a scenario of the Fed tightening in December, it could shift back towards 1.10. But on a further delay, a shift towards 1.15 and a test of 1.16 is more likely."
Key Quotes:
"We eliminated long USD exposure in our portfolio on 14 August because of uncertainty about the Fed’s ability to deliver lift-off in the near term, and our revised forecast pencils in some additional upside in EUR/USD in Q3."
"Whether EUR/USD can resume a downward path is crucially dependent on signals from the Fed. In a scenario of the Fed tightening in December, it could shift back towards 1.10. But on a further delay, a shift towards 1.15 and a test of 1.16 is more likely."