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- EUR/USD seen with potential to dip lower into the spring – Rabobank
EUR/USD seen with potential to dip lower into the spring – Rabobank
Analysts at Rabobank see the EUR/USD pair at 1.09 in a three month period and at 1.11 in nine months.
- "What is bad for the US economy, however, is enviably sour for the global economy. We expect any USD downside into the end of next year to be moderate as other central banks also provide more stimulative monetary policy conditions. In Australia, this could mean that Quantitative Easing is rolled out for the first time.
- During the past two years, the market has underestimated the strength of the USD vs. the EUR. What has changed since the start of that period is that the market is no longer short of USD, meaning it should become more sensitive to any bad news. What remains the same is that the USD is still the only dominant currency on the global payments system and that the US economy continues to perform well relative to other major countries.
- We see potential for EUR/USD to dip lower into the spring. However, on our view that the Fed will be cutting interest rates aggressively into the end of the year and we see scope for the USD to lose some ground in H2 2020."
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