- Analytics
- News and Tools
- Market News
- EUR/USD could climb back up to May highs at 1.0787 and then up towards the 1.10 – MUFG
EUR/USD could climb back up to May highs at 1.0787 and then up towards the 1.10 – MUFG
The European Central Bank (ECB) could now be the most aggressive central bank in tightening policy in Q1. ECB and Fed policy updates favour further upside for EUR/USD, economists at MUFG Bank report.
EUR to outperform against non-Dollar currencies
“The ECB has now positioned itself as the most aggressive major central bank in terms of raising rates at the start of next year. On its own the narrowing of expectations for monetary policy divergence between the ECB and Fed should encourage the EUR to rebound further against the USD. It opens the door for EUR/USD to climb back up to the highs from back in May at 1.0787 and then up towards the 1.1000-level.”
“Upside potential would though be dampened if global equity markets continue to correct lower in response to the hawkish policy updates and heightened fears over a hard landing for the global economy which would be supportive for the USD more broadly. In these circumstances, the EUR and USD should outperform alongside each other against the high beta G10 currencies of the AUD, CAD, GBP, NZD, NOK ad SEK.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
