th.ilovetranslation.com
EUR/USD LIKELY TO TRADE IN 1.07-1.08 RANGE -- MARKET TALK
16 November 2016, 00:23
0023 GMT [Dow Jones] The EUR/USD will likely change hands in a 1.07-1.08 range today, as investors continue to pay attention to the pair's downside risk, says Shinsuke Sato, head of FX trading group at Sumitomo Mitsui Banking Corp. Ahead of the ECB policy setting meeting (Dec. 8), investors are becoming increasingly mindful of such risk events as Italy's national referendum (Dec. 4), says Sato. "But it may take time to see the downside test below $1.07," says Sato. While global bond market global rout shows a tentative sign to take a breather, investors may shift their focus to oil prices following headline that Saudi Arabia's energy minister is set to meet with his Russian counterpart this week. (hiroyuki.kachi@wsj.com)
Editor: MNG
(END) Dow Jones Newswires
November 15, 2016 19:23 ET (00:23 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.