Week in FX Europe – Not everyone is a EUR Basher

EUR remains on the back foot after a surprisingly strong NFP headline and monthly revisions. A resilient US jobs report has some thinking that the FED may be less likely to go further down the QE path. No matter what next weeks US election outcome is, history tells us that it should favor the dollar, short term at least.

Not everyone is a EUR basher, SNB’s Jordan believes that the EUR/CHF floor at 1.20 was and is the ‘right policy.’ Swiss policy makers are adamant that the floor will remain in place and are dependent on economic factors. Jordan continues to defend the floor believing that the franc remains overvalued. His tone appears more muted, before he was defending the level at all costs. His dulcet tones would have us believing that the floor will not be raised any time soon.

 

WEEK AHEAD

  • USD ISM Non-Manufacutring Composite
  • AUD Reserve Bank of Australia Rate Decision
  • EUR Euro-Zone Producer Price Index (YoY)
  • AUD Employment Change
  • GBP BOE Asset Purchase Target
  • GBP Bank of England Rate Decision
  • EUR European Central Bank Rate Decision
  • EUR German CPI
  • USD U. of Michigan Confidence

 

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell
Dean Popplewell

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