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2 Apr 2015
Credit Agricole: USD upside capped for now – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Credit Agricole believes that USD’s upside might remain capped ahead of tomorrow’s US NFP release, especially against the euro.
Key Quotes
“The USD has been under pressure on the back of rising uncertainty ahead of Friday’s payrolls report. This is mainly due to yesterday’s weaker than expected ADP job and ISM manufacturing PMI report that indicate weaker labour market conditions.”
“However, we remain of the view that incoming data will be sufficient enough in keeping investors’ Fed rate expectations supported. Accordingly we believe that USD upside from current levels will prove limited, in particular against the EUR.”
“This is especially true as Greece-related uncertainty remains intact to the detriment of the EUR-related capital flow situation.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The USD has been under pressure on the back of rising uncertainty ahead of Friday’s payrolls report. This is mainly due to yesterday’s weaker than expected ADP job and ISM manufacturing PMI report that indicate weaker labour market conditions.”
“However, we remain of the view that incoming data will be sufficient enough in keeping investors’ Fed rate expectations supported. Accordingly we believe that USD upside from current levels will prove limited, in particular against the EUR.”
“This is especially true as Greece-related uncertainty remains intact to the detriment of the EUR-related capital flow situation.”
This content has been provided under specific arrangement with eFXnews.