In what’s become a near daily event, the ECB was out this morning with more euro talk and on Friday, it was bullish for the single currency.
Exactly 24 hours (literally on the dot) after Reuters ran an anonymously sourced piece about how the governing council was getting concerned about currency strength, Ewald Nowotny, speaking from Alpbach, Austria, offered the following:
Since the introduction of the euro, there were significant movements of the euro-dollar rate. We’re now roughly where we were when the euro was introduced. We’ve been below parity and we’ve been at $1.50-$1.60. Therefore, I wouldn’t over-interpret or dramatize.
Yeah. “Don’t be a damn drama queen about it, ok?”
And the reaction:
So if NFP does disappoint, that’s just another reason for EURUSD to surge on the print and if it beats, the above is reason not to get too excited about the greenback versus the common currency.
