The EUR/USD Analyst’s view is presented via the folks at eFX.
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Danske Research discusses the EUR/USD Forecast and maintains a bearish strategic bias for EUR/USD.
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“EUR/USD is still hovering around 1.10. Last week’s meeting of both the Federal Reserve and the European Central Bank was broadly in line with market expectations and therefore did not have any significant impact on the pair… We are not particularly convinced that The Fed will be making rate cuts of roughly 3 x 25 basis points that are currently priced in by the market for the remainder of this year, which could add some support to the US dollar in the second half,” Danske notes.
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“This week, it is worth paying attention to the US CPI on Wednesday, the US PPI on Thursday and Michigan inflation expectations on Friday. In the Eurozone, German CPI numbers were released on Wednesday. The EUR/USD appears to be bound in a range around 1.10 is a very near-term sign. We still have a bearish stance on the crossover on a strategic horizon and expect it to drop towards 1.06 in 6 months, as mainly the US looks stronger than the Eurozone, which we think will show up in H2,” adds Danske.