💶Euro Set to Post Third Straight Weekly Loss: Cable FX Macro

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• Noting euro heading into consolidation as it trades near 1.1200 lows and posts a third consecutive weekly decline. Upside and downside levels to keep in mind at 1.1250/80, 1.1425 and 1.1200. I have heard desks looking into USD 1.1400 as a near-term target in the case the China-U.S. talks fail over the weekend. Regardless of the geopolitical developments, the docket holds plenty of risks next week *U.S. retail sales, consumer prices, EU GDP.

• Also, USD premium for downside protection has not moved dramatically in longer-term tenors. This means that EUR/USD upside interest remains steady. The desk at J.P. Morgan has pencilled 1.20 as a target for the pair. Also, BofA noted equity inflows led by European stocks this week.