The CEO of Airbus, Europe’s largest exporter, says that he is worried about the value of the euro versus the dollar. If I am not mistaken, airliner contracts are denominated in dollars, but Airbus’s costs are mostly based in euros. Not an enviable position.
EUR/USD is gathering a little downside momentum, trading now at 1.4591. Traders are wary of selling aggressively, expecting Asian CB buying on dips. The market clearly trades from a long position and is hoping for bounces to lighten up.
