The European Central Bank raised interest rates on Thursday but signalled that the move may be the last one in the current cycle. Economists at ING an
Expect EUR/USD to trade on the soft side now that the ECB has told us that rates have peaked. However, we suspect good demand will emerge near the 1.05 level. Our house call is that US ‘exceptionalism’ does not last and that US growth converges on the weak Eurozone story into 2024.
Typically, November and December are seasonally weak months for the Dollar. Our call is that weaker US activity data will become evident over time and that the current period will come to be viewed as ‘as good as it gets’ both for US growth and the Dollar. We are sticking with our call that EUR/USD will be trading above 1.10 by year-end.Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD recovers some lost ground near 1.0660, eyes on FOMC meetingThe EUR/USD pair recovers its recent losses after bouncing off the multi-month low of 1.0631 during the early Asian session on Monday. Meanwhile, the
Read more »
EUR/USD extends gains around 1.0670, focus on Fed policy decisionEUR/USD initiates the week by extending its gains, trading at higher levels around 1.0670 during the Asian session on Monday. The pair is receiving up
Read more »
EUR/USD: There is still room for further weaknessEconomist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group still expect EUR/USD to weaken further in the next few weeks. Key Quotes 24-h
Read more »
EUR/USD Price Analysis: Another visit to the 1.0630 region is not ruled outEUR/USD extends Friday’s recovery and hovers around the 1.0680 region on Monday. Despite the so far two-day bounce, the pair’s underlying bearish sent
Read more »
EUR/USD Forecast: Bearish breakout on the cardsThe EUR/USD pair trades with modest gains on Monday, hovering around 1.0660 ahead of Wall Street’s opening. The US Dollar eases despite the market mo
Read more »