sentix ASR Essentials 38-2017

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Backing away from a positive Euro bias

The latest sentix survey revealed that sentiment on the euro was relatively neutral versus the US dollar ahead of the German election results, though investors’ strategic bias on the single currency continues to weaken. On the latter front, readings on EUR/USD dropped to their lowest level since mid-March. Changing opinion on the medium-term outlook for the euro had little impact on equity views, with strategic bias readings on eurozone indices also edging lower over the week. However, a continued moderation in investors’ medium-term euro bias moving into Q4 could potentially provide a plank of support for investors strategic views on eurozone equities. One to watch! See Charts 2-4, p2.

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