From ANZ's weekly look at FX strategy, this brief on their EUR outlook.

The bank has 1.16 as fair value for the pair:

  • Given the euro area's high beta to global trade, we expect more global uncertainty around the pandemic to keep any upside capped.
  • Positive developments towards an EU fiscal response have improved the outlook for the region, however challenges remain as the region deals with the ongoing pandemic.

Keep an eye out for 2nd wave impacts, over the weekend we had a few items to take note of, neither of which have impacted risk sentiment so far today though: