No major movements to be expected

Review: Good US retail sales triggered demand for USD The US: Retail sales offered a pleasant surprise. Good economic indicators from the US still support the strengthening of USD. The good retail sales sent EURUSD to a new low for 2013. We traded at 129.23. Even though we have a long-term target of a significantly lower EURUSD for 2013, we maintain that for the short term (up to a month) EURUSD is at an oversold level. As long as EURUSD trades well above 128, we are convinced that our

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No major movements to be expected

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