SaxoTV

Hardy: EURUSD gets a technical break

837 views
January 05, 2016 cpi, cpi eurozone, cpi inflation, eur, euro, euro dollar, euro zone, eurodollar, europe, european, european central bank, european economy, eurozone, eurozone economy, eurusd, foreign exchange, forex, forex idea, forex market, forex markets, forex saxo bank, forex trading, fx, fx crosses, fx forex, fx investing, fx market, fx markets, fx options, fx spot, fx strategy, fx trade, fx trading, fx volatility, german, german economy, german gdp, germany, germany economy, inflation, inflation and investing, inflation rate, inflation rates, inflation report, inflation target, jpy, jpy crosses, saxo, saxo bank, saxo tv, saxotv, trading, tradingfloor.com, us, us dollar, usa, usd, usdjpy
EURUSD made a technical break this Tuesday, dropping below 1.08. The move happened even before the release of the key December CPI estimate for the Eurozone, notes Saxo's John Hardy. Markets were prepared for a soft number following Monday's German CPI estimate which was even lower. Hardy says the break opens up the bottom of the range in eurodollar to below 1.06.

Meanwhile, risk appetite has been weak of late which during 2015 saw EURUSD rise. But this time it has started to fall which suggests to John that there is a more bearish outlook for the pair.  John also looks at USDJPY.