USD weakness is overdone – BNPP

In view of the analysts at BNP Paribas, temporary USD weakness provides a good buying opportunity, with EURUSD failing to stabilise above its 200 day moving average of 1.0874.

Key Quotes

“There will be five Federal Reserve speakers this week and the FOMC meeting minutes will be released on Wednesday 5 April. The disconnect between Fed rhetoric and what the market is pricing continues. US front-end rates have declined since the last FOMC meeting. The ECB will release its minutes on Thursday 6 April, which could shed further light on the central bank’s view on the short-term outlook for monetary policy, after markets reacted this week to press reports that an unnamed ECB member said the bank was wary of triggering a premature tightening of financial conditions.”