This EUR/USD analyst view is via the folks at eFX.
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Danske Research discusses EUR/USD outlook and maintains a strategic bearish bias on EUR/USD.
- "EUR/USD is still hovering around the 1.10-mark. Last week both the Fed and the ECB meetings were broadly in line with market expectations and therefore did not have any significant impact on the cross...We are particularly not convinced that the Fed will deliver the approximately 3x25bp rate cuts currently priced in by the market for the remainder of this year, which could add some USD support in H2," Danske notes.
- "This week, it is worth keeping an eye on US CPI on Wednesday, US PPI on Thursday and Michigan inflation expectations on Friday. In the euro area, German CPI figures are out on Wednesday. The EUR/USD looks range bound around the 1.10 mark in the very-near term. We still have a bearish stance on the cross on a strategic horizon and expect it lower towards 1.06 in 6M, as the US fundamentally looks stronger than the euro area, which we think will show in H2," Danske adds.
