Economists at Erste Group Research expect the EUR/USD pair to hover around 1.08 in the short term. In the medium term, the US Dollar is expected to weaken.Dollar to weaken slowly in the medium term
“Varying economic data should continue to drive rapidly changing expectations for policy rates in both economies. The environment thus remains very uncertain. However, neither currency should become more attractive.”
“EUR/USD should thus remain in a volatile sideways movement around 1.08 for the time being.”“In the medium term, we expect a slow weakening of the Dollar, as interest rates should start to fall here earlier than in the Eurozone.”
EUR/USD clings to strong daily gains above 1.0700
EUR/USD has regained its traction and climbed above 1.0700 after having retreated to the 1.0650 area earlier in the day. The sharp decline witnessed in the US Treasury bond yields continues to weigh heavily on the US Dollar and helps the pair stretch higher.
EUR/USD News
GBP/USD extends rally, closes in on 1.2200
GBP/USD has turned north and advanced beyond 1.2150 following a downward correction to 1.2050 in the early European session on Monday. The US Dollar stays under constant selling pressure and boosts the pair as investors expect the Fed to reassess the policy amid SVB turmoil.
GBP/USD News
Gold capitalizes on slumping US yields, trades above $1,900
Gold price has preserved its bullish momentum and climbed above $1,910 for the first time since early February on Monday before retreating modestly. The benchmark 10-year US T-bond yield is down 6% on the day near 3.5% amid SVB drama, fueling XAU/USD’s impressive rally.
<a href=”https://clicks.pipaffiliates.com/c?m=7670&c=503446″><img src=”https://ads.pipaffiliates.com/i/7670?c=503446″ width=”120″ height=”600″ /></a>
Free Forex Signals 