Economists at Credit Suisse look for EUR/USD to push towards 1.1250.EUR still being carried by the ECB
“At the start of Q1 we wrote ‘a hawkish ECB framework, lower energy prices in Europe and a market fixation with US disinflation potential all leave room for EUR/USD to push again towards 1.0950 near-term.’ With that framework intact/strengthened post US bank failures in March and a stubborn ECB, we expect an extension now to 1.1250.”
“The key view risk is that banking stress spills over into Europe or that political tensions exacerbate, though the 1.0500 level should be strong support.”
EUR/USD renews two-month highs above 1.0950
EUR/USD has gathered bullish momentum and reached its highest level since early February above 1.0950 before retreating modestly. The persistent selling pressure surrounding the US Dollar following disappointing data releases fuels EUR/USD’s rally on Tuesday.
EUR/USD News
GBP/USD tests 1.2500 after disappointing US data
GBP/USD has gained traction and climbed to the 1.2500 after having met resistance at that level earlier in the day. The US Dollar is having a difficult time finding demand after weaker-than-expected macroeconomic data releases, helping the pair stretch higher.
GBP/USD News
Gold surges to fresh multi-month highs above $2,020
Gold has extended its daily rally and touched its highest level in over a year above $2,020 on Tuesday. Dismal JOLTS Job Openings and Factory Orders data from the US triggered a fresh leg of USD selloff in the American session and provided a boost to XAU/USD.
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