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26 Jan 2024

EUR/USD seen at 1.0700/1.0500 on a 6/12M horizon – Danske Bank

EUR/USD moved lower to around the 1.0850 mark after the relatively dovish ECB meeting. Economists at Danskr Bank analyze the pair's outlook.

Selling EUR/USD on rallies in the near term

While we recognise that our Fed (first cut in March) and ECB (first cut in June) forecasts, all else equal, are positive for EUR/USD in H1, we believe that the broader pricing in the G10 could be more decisive for the cross, as we perceive current market expectations for rate cuts to be excessive. 

We still maintain our bias towards selling EUR/USD on rallies in the near term, and we forecast EUR/USD at 1.0700/1.0500 on a 6/12M horizon.

 

Jan 26, 2024

EUR/JPY rebounds from weekly lows after decelerated Japan CPI, edges higher to near 160.60

EUR/JPY snaps its four-day losing streak, rebounding to near 160.60 during the European session on Friday.
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Jan 26, 2024

Brazil Mid-month Inflation below expectations (0.47%) in January: Actual (0.31%)

Brazil Mid-month Inflation below expectations (0.47%) in January: Actual (0.31%)
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