In the past few days, EUR/USD has travelled from a recent high around 1.0694 back to the 1.0540 area. Economists at Rabobank analyze the pair’s outlook.USD to remain well-supported.The USD will likely continue to be buffered by the movement in US yields in the weeks ahead. That said, we would expect any surge in safe-haven demand to benefit the USD, even if this also drives down treasury yields.Despite the anticipated efforts by the ECB to promote a higher for longer outlook for European rates, in our view, the weakness of the Eurozone economy suggests scope for further downside pressure on the EUR.
We maintain a forecast of EUR/USD 1.02 on a three-month view.
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EUR/USD remains vulnerable near 1.0550 ahead of ECB policy announcements
EUR/USD remains vulnerable near 1.0550 ahead of ECB policy announcements
EUR/USD is trading near 1.0550, on the defensive at weekly lows early Thursday, as traders await the European Central Bank (ECB) interest rate decision. The expected ECB pause and a downbeat mood-led US Dollar demand undermine the pair. US Q3 GDP eyed as well.
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GBP/USD drops to multi-week low below 1.2100 on stronger US Dollar
GBP/USD drops to multi-week low below 1.2100 on stronger US Dollar
GBP/USD is back under 1.2100 in early Europe on Thursday, extending this week’s decline from the vicinity of 1.2300. The pair is pressured by risk-aversion, in the face of Mideast tensions and surging US bond yields, which boost the US Dollar ahead of the key GDP release.
GBP/USD News
Gold price refreshes weekly top amid fears over Israel-Hamas war, US Q3 GDP in focus
Gold price refreshes weekly top amid fears over Israel-Hamas war, US Q3 GDP in focus
Gold price attracts some buyers for the second straight day amid geopolitical concerns. Bulls seem rather unaffected by rising US Treasury bond yields and a stronger US Dollar. Investors look to the Advance US Q3 GDP growth figures for some meaningful impetus.
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