Market news

9 June 2020

EUR/USD to trade at 1.15 in one month - Danske Bank

FXStreet reports that Lars Sparresø Merklin from Danske Bank has updated the EUR/USD forecast to 1.15 in one month and to 1.11 in twelve months. 

“We revise our one-month and three-month forecast to 1.15 while lifting our six-month and twelve-month forecast to 1.11. This is a parallel shift upwards of six figures reflecting not only global reflation trends but also a one-off level from changed European tail risks. The key risk for our six-twelve month view will be how the Fed moves in the second half of 2020.”

“Longer-term issues have still to be addressed within core European industries (autos, banks, etc.), Brexit remains unresolved and Italy may enter new debt sustainability discussions by year-end. Further, positive macro surprises in the US may help to stem USD weakness. Lastly, and most importantly, we have yet to see real commitment from the Fed to pursue inflation overshooting.”

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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