EURUSD: Euro to reflect the weak outlook over the next two quarters .

The Euro ended the month of October a penny higher than a month ago. Economists at the National Bank of Canada expect the common currency to remain vulnerable in the next two quarters.The outlook for Eurozone economy is negative

“We continue to expect the shared currency to reflect the weak outlook over the next two quarters but do not discount the possibility of a Fed pivot before the second half of next year that could set the stage for a modest rise in EURUSD.”

“Assuming some improvements on inflation and geopolitical front, that could leave some room for Euro appreciation later in our forecast horizon.”

EURUSD battles parity amid the US Dollar rebound

EURUSD is trading at around parity, under pressure amid a renewed uptick in the US Dollar. Investors remain on the sidelines in anticipation of the critical US inflation data later this week. Eurozone Retail Sales data and US mid-term elections are in focus. 

EUR/USD News 

GBPUSD drops below 1.1500 as US Dollar recovers

GBPUSD is extending losses below 1.1500 heading into the European open. The US Dollar finds its feet amid higher Treasury yields and a cautious market mood. Speeches from the BoE and Fed officials eyed along with the US mid-term elections. 

GBPUSD News 

Gold bears eye $1,650, focus on US mid-term elections, inflation

Gold price (XAUUSD) holds lower ground below $1,670 in early Europe. The yellow metal’s losses could be linked to the market’s deteriorating sentiment, as well as, the recent rebound in the US dollar. All eyes on US mid-term elections. 

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