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22 Apr 2014
Weak PMIs would help easing expectations - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, sees weak PMI prints to help build up easing expectations by the ECB.
Key Quotes
"Euro Zone consumer confidence data won't do much for us today, but it's flash PMI day tomorrow. We look for an unchanged headline at 53."
"But the market risk is probably still that weak data helps bonds, and easing expectations while a stronger number squeezes EUR/USD shorts (yet again). Mr Draghi speaks in Amsterdam on Thursday."
"Meanwhile, Swedish unemployment this morning bears watching, the market looks for the seasonally adjusted rate to edge down to 8% from 8.1%. We remain long NOK/SEK."
Key Quotes
"Euro Zone consumer confidence data won't do much for us today, but it's flash PMI day tomorrow. We look for an unchanged headline at 53."
"But the market risk is probably still that weak data helps bonds, and easing expectations while a stronger number squeezes EUR/USD shorts (yet again). Mr Draghi speaks in Amsterdam on Thursday."
"Meanwhile, Swedish unemployment this morning bears watching, the market looks for the seasonally adjusted rate to edge down to 8% from 8.1%. We remain long NOK/SEK."