EUR/USD: A correction is a risk – SocGen

EUR/USD has stabilised above the 1.09 mark. Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes the pair’s outlook.

CFTC data suggests the speculative market is long Euros

EUR/USD has risen fast enough in recent days for RSIs to be overbought and the same is true of the Euro Stoxx index.

A correction is a risk and at the very least, a period of EUR/USD consolidation is likely, while economic data aren’t that good, and the CFTC data suggests the speculative market is long Euros.

Short-term, I’d rather own GBP than EUR, on positioning, and even on talk of ill-advised tax cuts which could nevertheless delay rate cuts.

Nov 21, 2023

USD/CNH: The next support of note comes at 7.1100 – UOB

Further selling pressure could drag USD/CNH to the 7.1100 region in the near term, argue Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.

Bailey speech: ‘Table mountain’ is a good analogy for keeping rates on hold

Bank of England (BoE) Governor Andrew Bailey is testifying on the November Monetary Policy Report (MPR) before the UK’s Parliament's Treasury Select Committee (TSC) on Tuesday.