Euro subject to upside risks from eurozone inflation data on Thurs
Credit Agricole CIB FX Strategy Research discusses its bullish EUR outlook, while holding long EUR/USD position* from 1.1770 targeting 1.2200 and long EUR/CHF position* from 1.1320 targeting 1.1800.
"The Euro has been well supported for most of the last few trading days, mainly on the back of better than expected growth data as well as falling political uncertainty as when it comes to Germany....Expectations with respect to a revival of the "Grand Coalition" remain intact
"Data wise this week's main focus will be on the release of preliminary November CPI to be released on Thursday...If anything, we do not exclude that this week's inflation data is surprising to the upside," CACIB argues.
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