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- EUR/USD to drop towards 1.08 before recovering to 1.12 over coming months – Rabobank
EUR/USD to drop towards 1.08 before recovering to 1.12 over coming months – Rabobank
Economists at Rabobank maintain that the USD will remain supported in the near-term. Therefore, they forecast EUR/USD at 1.08 on a one-month view though see the pair edging higher towards 1.12 on a one-year view.
EUR/USD to pivot around the 1.10 level in the coming months
“The imbalances in the supply and demand of commodities caused by Russia’s pariah status could create stresses in some markets for years. This is likely to underpin safe-haven demands of USDs. The fact that this coincides with an aggressive pick-up in the pace of Fed tightening strengthens the near-term outlook for the USD.”
“In view of the risks to Europe stemming from energy supply, we would not rule out a dip in EUR/USD as far as 1.08 on a one-month view. That said, we expect EUR/USD to pivot around the 1.10 level in the coming months rising towards 1.12 on a one-year view.”
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