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30 Sep 2013
Flash: EUR/USD in a whirl pool of gravitation? - OCBC
FXstreet.com (London) - Emmanual Ng, strategist at OCBC said the EUR/USD swirling Italian political uncertainty may continue to take a toll on the EUR/USD in the very short term.
Key Quotes:
“Over the weekend, with Berlusconi pulled five ministers from the Cabinet, causing PM Letta to call for a confidence vote on Wednesday to avert any election”.
“On the CFTC front, net speculative longs rose significantly in the latest week but any impact from this may be blunted by fresh political uncertainty”.
“Any protracted uncertainty may thus see the pair potentially gravitate towards the 1.3450 vicinity with initial support see near 1.3550”.
Key Quotes:
“Over the weekend, with Berlusconi pulled five ministers from the Cabinet, causing PM Letta to call for a confidence vote on Wednesday to avert any election”.
“On the CFTC front, net speculative longs rose significantly in the latest week but any impact from this may be blunted by fresh political uncertainty”.
“Any protracted uncertainty may thus see the pair potentially gravitate towards the 1.3450 vicinity with initial support see near 1.3550”.