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15 May 2014
EUR/USD downtrend intact after US PPI and Weidmann - UBS
FXStreet (Córdoba) - The strong April rebound in US producer prices should strengthen the USD, according to the UBS analyst team.
Key Quotes
“US producer prices posted a strong rebound in April showing that activity is increasing after a subdued Q1. This should strengthen the USD”.
“The speech of Bundesbank President Weidmann was well equilibrated. On the one side he agreed that inflation is subdued and that the Bundesbank will support any ECB policy action. On the other side he ensured that he likes to see more evidence”.
“He also was not sure if QE would lift inflation. His statements keep the downtrend in EUR/USD intact”.
Key Quotes
“US producer prices posted a strong rebound in April showing that activity is increasing after a subdued Q1. This should strengthen the USD”.
“The speech of Bundesbank President Weidmann was well equilibrated. On the one side he agreed that inflation is subdued and that the Bundesbank will support any ECB policy action. On the other side he ensured that he likes to see more evidence”.
“He also was not sure if QE would lift inflation. His statements keep the downtrend in EUR/USD intact”.