Economists at Commerzbank change their EUR/USD forecast. They expect the pair to climb toward 1.14 until the end of the year.EUR/USD to fall to 1.08 by year-end 2024
“For the time being EUR is likely to benefit from the ECB’s restrictive approach whereas the Fed is likely to begin signalling rate cuts over the course of the year, which should put pressure on USD.”
“We have adjusted our EUR/USD projections and see scope for higher EUR/USD levels of 1.14 until year-end.”“However, we stick to our view that EUR/USD will weaken over the course of 2024, as once it becomes clear that inflation in the Eurozone will not ease as quickly, ECB monetary policy will not seem that restrictive any longer. That is likely to put pressure on EUR, so we expect a fall in EUR/USD to 1.08 by year-end 2024.”
EUR/USD extends recovery to near 1.1040 as USD Index drops further, US NFP remains key
The EUR/USD pair has recovered firmly to near 1.1040 in the Asian session as the US Dollar index (DXY) has resumed its downside journey. The major currency pair is trying to revive Thursday’s sell-off inspired by a smaller interest rate hike from the European Central Bank (ECB).
EUR/USD News
GBP/USD crosses 1.2600 to refresh one-year high amid broad US Dollar weakness ahead of US NFP
GBP/USD rises for the third consecutive day to prod the late May 2022 high, piercing the 1.2600 threshold during early Friday. In doing so, the Cable pair cheers broad US Dollar weakness, as well as recently upbeat UK data, ahead of the key US Nonfarm Payrolls (NFP).
GBP/USD News
Gold seems poised to test ascending channel hurdle, around $2,100
Gold price oscillates in a narrow band around the $2,050 region through the Asian session on Friday and remains well within striking distance of an all-time high touched the previous day.
<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 
Leave a comment