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EUR/USD easing from highs; central banks and corporates sell

By   || July 27, 2010 at 13:06 GMT
|| 3 comments || Add comment

Plenty of interest to sell EUR/USD this morning with central banks and a German corporate among the more active sellers. The SNB has been a good seller, legging out of its EUR/CHF debacle while M&A flows into the US and out of Germany are noted among dealers.

1.2995 is first support for EUR/USD while more is down at 1.2965. EUR trades at 1.2998.

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Category: All, Americas, Mkt Talk, Regions
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3 Responses to “EUR/USD easing from highs; central banks and corporates sell”

  1. John B on July 27th, 2010 13:44 GMT

    Would long EUR/USD just ahead of Consumer Confidence report at 1.2995 with stop just below 1.2960 (the daily low). Target 1.3094, the daily resistance pivot.

  2. Akis on July 27th, 2010 13:51 GMT

    Jamie hi,,
    Can u please give your opinion about in which direction EUR/USD will head for the month’end portfolio’s correction(balance)?
    I mean like when it was realy low,but we could see a small lift at the end of the month caused from balance fixing (hedge funds and portfolio’s managers).
    Can we see a drop now that the month ends?

  3. Jamie Coleman on July 27th, 2010 13:55 GMT

    It all comes down to relative performance between markets, mostly equity markets…You can get a rough idea by looking at a braod avg like the eurostoxx versus the S&P…If Europe outperformed, them managers will have to sell EUR to get rid of “excess EUR” to rebalance…nd vice versa

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