EUR dips on ECB doubts on projections for H2 growth rebound

Published date: 16/04/2019
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Hitting the wires were reports that several policymakers at the ECB doubt the projections for a rebound in growth in the second half of the year.   They are also sceptical of the accuracy of the metrics used to make these projections, citing that they believe the calculations are 'too optimistic'.

This sent EUR/USD tripping back under 1.1300, where the spot rate eventually found support at 1.1280.  This could yet be tested again once North American traders come in as we expect intraday sellers will not be sitting in wait ahead of 1.1300.  

The crosses have all followed suit, especially EUR/JPY, which is now eyeing a move on the low 126.00's as this will also affect risk sentiment in the market and return a bid for the JPY.  

EUR/CHF and EUR/GBP may be better protected, though here also we have seen modest losses, though the USD and JPY will be outright beneficiaries of this latest news.


Comments

  • EUR dips on ECB doubts on projections for H2 growth rebound
    Miekel Perez says:
    16/04/2019

    EJ! I very glad we look through same eyes hahaa :D waiting for big drop

  • EUR dips on ECB doubts on projections for H2 growth rebound
    Paul T says:
    16/04/2019

    Very nice moves from EU pairs! I dont think the pending brexit agreement will aid any recovery this year.

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