08.07.2014 9:18

EUR remains attractive for sale, says the BNPP

In June, the ECB kept rates unchanged, but the effect of the June package of mitigation measures is likely to continue, according to BNPP.

“We believe that the EUR will remain an attractive proposition for sale. Any further signs of slowdown in the market will also affect the euro, and we maintain short positions in the EURUSD and EURGBP, as short-term recommendation “- advises BNPP.

The pair EUR / GBP BNPP retains a short position with a goal and 0.8140 – 0.78 for the next month.

“As for Sterling, we expect the BoE meeting, to be held this week, something important will not happen, however, if the indicators of industrial production, which will be released on Tuesday, will meet expectations, sterling will remain” at the helm. “We believe that the UK will be the fastest growing economy of the G10 countries in 2014, with GDP growth of 3.4% and expected to yield data that will confirm it, “- predicts BNPP.

The pair EUR / USD BNPP maintains short positions from 1.3620, the goal – 1.32 and feet – to 1,320.

“The juxtaposition of strong employment figures and weak growth has further aggravated report on non-farm employment. Stable job creation makes the recovery in GDP growth is more likely in the second or third quarter, and we are confident that it will determine the growth yield of U.S. Treasury bonds and the strengthening of the dollar, “- says BNPP.