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- EUR/USD could dive below 0.95 for some months – Rabobank
EUR/USD could dive below 0.95 for some months – Rabobank
Economists at Rabobank retain a bullish USD view and maintain their forecast of a move lower to EUR/USD 0.95 on a one-month view. A move below this level, however, is not ruled out.
Severe risks to financial stability in Europe
“Europe could be facing ‘severe risks to financial stability’ according to a key regulator. This warning comes on the back of a slew of reports highlighting the impact of high energy costs on German industry. In our view, the EUR is not yet fully priced for the impact of Europe’s energy crisis.”
“We maintain our forecast of a move lower to EUR/USD 0.95 on a one-month view and expect the currency pair to remain at these levels, or lower, potentially for some months.”
“In our view, further European Central Bank rate hikes will not be sufficient to prevent the EUR falling further against the mighty USD.”
“Despite the emergence of fragilities in the global economic, further aggressive Fed rate hikes look set to be announced which is set to underpin the strength of the greenback.”
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