EUR/USD pair is set to advance nicely over the coming months.More upside in EUR/USD for 2023 and 2024.“As long as EUR/USD is above 1.0325 the long-term trend is positive.”
“We think there is more upside in EUR/USD for 2023 and 2024. This is mainly driven by a narrowing of the difference in policy rates and government bond yields between the US and the Eurozone as a result of more the more aggressive rate cuts we expect for the Fed compared to the ECB at the end of 2023.”
“Our forecast for the end of 2023 for EUR/USD is 1.12 and to 1.16 end of 2024.”
EUR/USD up modestly on Friday, holds onto weekly gains
EUR/USD rose back above 1.0600 in the American session, boosted by risk appetite that weighed on the US Dollar. US stocks are up, heading toward weekly gains. Data from the US showed activity in the Service sector continued to expand at a robust pace in February; ahead of the NFP week, the Employment Index soared unexpectedly.
EUR/USD News
GBP/USD back near 1.2000, remains rangebound
GBP/USD rebounded from 1.1960 late on Friday, amid a weaker US Dollar. Higher equity prices in Wall Street and a modest decline in US yields weighed on the Greenback. The pair keeps moving sideways above the 1.1900 mark.
GBP/USD News
Gold rebounds back to the $1,850 area, consolidates weekly gains
After a brief decline to $1,840 following the ISM Services PMI, Gold rebounded rising back toward the $1,850 area. A weaker Dollar and a modestly retreat in US Treasury yields in the American session, helped the yellow metal. XAU/USD is posting the biggest weekly gain since early January.
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