EUR/USD: Bulls guard the 1.1200 barrier, eyes on RMB – Morgan Stanley

Dhwani Mehta FXStreet

Morgan Stanley’s analysts offer their outlook on the EUR/USD pair, in light of the recent Chinese trade figures and its positive impact on the Euro.

Key Quotes:

“EURUSD bears have struggled to push the pair below 1.12.

Traders should remember that the RMB plays a key role here, and sentiment is overly bearish.

Especially when China's January trade figures significantly outperformed expectations.

January export and import figures for China greatly exceed market expectations (imports y/y grew at -1.5%vs consensus of -10.2%).”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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