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Flash: EUR/USD to break the years high this week? – Societe Generale

FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes up coming events for the EUR/USD this week.

Key Quote

“Thursday sees Euro area PMIs. We look for a dip, the market for a gain. Statistically, it means nothing, the data are above 50 and trundling, but this could decide whether EUR/USD holds below the year's high or not”.

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In a quiet market on Monday, the accumulation of USD shorts was pared back modestly ahead of the NFP tomorrow, notes Shaun Osborne, Chief FX Strategist at TDS.
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Research teams at Merrill Lynch said, “The downward trend in the USD DXY index has been in place for three months, however trading this has been difficult given a high level of uncertainty in the market and large corrective pullbacks”.
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