This EUR/USD analyst’s view comes from the folks at eFX.
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Danske Research discusses the EUR/USD outlook and maintains a strategic bearish bias on the EUR/USD.
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“EUR/USD is still hovering around the 1.10 mark. , could deliver the roughly 3x25bp rate cuts that the market is currently pricing for the remainder of the year, and add support for the US dollar in the second half of the year,” said Danske.
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“This week it’s worth keeping an eye on Wednesday’s US CPI, Thursday’s US PPI, and Friday’s Michigan inflation forecast. In the Eurozone, Germany’s CPI numbers are out Wednesday. EUR/USD at 1.10. It looks like it’s stuck in a high-to-low range We still have a bearish stance on the cross on the strategic side, and we expect it to drop towards 1.06 in 6 months as the US basically looks stronger than the eurozone , we believe this will emerge in the second half of the year,” adds Danske.
