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24 Feb 2015
FX Outlook: Stay bearish for EUR, AUD/NZD – RBS
FXStreet (Barcelona) - Paul Robson, Senior Trading Desk FX Strategist at RBS, gives the outlook for FX pairs, remains bearish on EUR versus USD and GBP, and expects AUD/NZD to head towards parity.
Key Quotes
“We stay bearish EUR and expect EUR/USD to end 2015 at 1.02. Euro area activity could strengthen further, but weak inflation pressure is solidly EUR-negative in our view. Short EUR/USD.”
“Markets continue to think about Bank of England as a bit more like the Fed and a lot less like the ECB. Short EUR/GBP, long GBP/CHF.”
“Relative macro prudential and monetary policy shifts may mean AUD/NZD prints new lows. Short AUD/NZD, looking for parity.”
“The oil price rally may have stalled. Square USD/CAD shorts.”
“Greece bailout extension seems a solidly positive outcome for risk assets. Stocks higher, credit tighter, curves flatter on global duration grab."
“For EM carry, stay short EUR/INR.”
Key Quotes
“We stay bearish EUR and expect EUR/USD to end 2015 at 1.02. Euro area activity could strengthen further, but weak inflation pressure is solidly EUR-negative in our view. Short EUR/USD.”
“Markets continue to think about Bank of England as a bit more like the Fed and a lot less like the ECB. Short EUR/GBP, long GBP/CHF.”
“Relative macro prudential and monetary policy shifts may mean AUD/NZD prints new lows. Short AUD/NZD, looking for parity.”
“The oil price rally may have stalled. Square USD/CAD shorts.”
“Greece bailout extension seems a solidly positive outcome for risk assets. Stocks higher, credit tighter, curves flatter on global duration grab."
“For EM carry, stay short EUR/INR.”