Opgericht in 1974

Meer dan 195,000 cliënten wereldwijd

Toegang tot 15,000 markten

Fresh pressure on EUR/USD as QE starts

EUR/USD has come under renewed pressed as the European Central Bank starts its quantitative easing scheme.

Alastair McCaig

2015-03-10T09:58:04+0000

Euro and dollar notes

Source: Bloomberg

Euro setting new lows

EUR/USD may well have moved into heavily oversold territory, but the start of the ECB’s QE scheme has triggered weakness for the euro as the bond buying scheme aims to kick the eurozone’s recovery into gear. This scheme is expected to run until the fourth quarter of 2016, but the phraseology that has been used by Mario Draghi has not just hinted but almost stated that this is not necessarily an end date for the scheme.

EUR/USD continues to set new 11-year lows and in the short term is showing no signs of resilience. At the beginning of the year a number of institutions called for EUR/USD parity before the end of the year. At this moment in time both the fundamental and technical outlook point towards that target being hit long before year end.

Spot FX EUR/USD chart

Spot FX EUR/USD chart

Spot FX EUR/USD chart

GBP/USD could challenge $1.5000

The bounce that GBP/USD had been enjoying is long gone, and a return to the bearish trend is now well underway. The $1.5000 level has looked like a target for some time and could well be challenged over the coming days. We will hear from the Bank of England’s Mark Carney in the early afternoon, and then Ian McCafferty in the early evening.

As my colleague David Madden has pointed out, Mr McCafferty is regarded as more of a Hawk but will need to come out with some strongly-worded commentary in order to change the path of GBP/USD.

Tomorrow morning’s UK manufacturing and industrial production figures might have more of a chance of changing the currency markets' sentiment. For the time being a retest of $1.5000 looks likely.

Spot FX GBP/USD chart

Spot FX GBP/USD chart

Spot FX GBP/USD chart

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by analysts

Chris Beauchamp

London
Joshua Mahony

London
Salah-Eddine Bouhmidi

Düsseldorf

Een artikel zoeken

Meer info over...

Handelen in FX bij IG
Forex-CFD productvoorwaarden
Handelen in FX

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder. Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren. Professionele cliënten kunnen meer verliezen dan hun inleg. Iedere vorm van beleggen is risicovol.

De waarde van aandelen, ETF's en ETC's die via een aandelenrekening zijn gekocht, kan zowel stijgen als dalen. Dit betekent dat u minder terug kunt krijgen dan u heeft ingelegd. Prestaties in het verleden zijn geen garantie voor toekomstige resultaten.

CFD's en beleggen in aandelen wordt aangeboden door IG Markets Ltd. IG is een handelsnaam van IG Markets Ltd. Het geregistreerde adres is Cannon Bridge House, 25 Dowgate Hill, London, EC4R 2YA. IG Markets Ltd. is geautoriseerd en gereguleerd door de Britse FCA (nummer 195355).

De informatie op deze website is niet gericht aan inwoners van de Verenigde Staten of België en is niet bedoeld voor de verspreiding van, of gebruik door, een persoon in een land of jurisdictie waar zulke verspreiding of gebruik in strijd is met de lokale wet of regelgeving.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren. CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.