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31 Dec 2013
Flash: FX Set-up: Looking Ahead to the New Year - TD Securities
FXstreet.com (Córdoba) - Month-end flows may generate a little interest in the market today but flow-driven trade is likely to be the only real driver of movement ahead of the year-end, according to the TD Securities team.
Key Quotes
"Recall that seasonal patterns which have been more adversarial for the USD in the latter part of the 2013 tend to be a little more USD-supportive moving into the early part of the new calendar year".
"In the past 10 years, January has been the second-worst month in terms of performance for the EUR (May being the worst)".
"Current, lofty levels in spot are a prime opportunity for short positions still, we feel".
Key Quotes
"Recall that seasonal patterns which have been more adversarial for the USD in the latter part of the 2013 tend to be a little more USD-supportive moving into the early part of the new calendar year".
"In the past 10 years, January has been the second-worst month in terms of performance for the EUR (May being the worst)".
"Current, lofty levels in spot are a prime opportunity for short positions still, we feel".