Home Forex EUR/USD's losses at the start of the year risk extending a bit before stabilizing – Scotiabank

EUR/USD's losses at the start of the year risk extending a bit before stabilizing – Scotiabank

by SuperiorInvest


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EUR/USD is trading below the 1.0800 level. Economists at Scotiabank analyze the pair's outlook.

Until the 2nd/3rd quarter, a more constructive EUR trend should develop

EUR/USD's losses at the start of the year risk extending a little further before stabilizing.

Macroeconomic drivers should improve somewhat for the EUR in the coming year, the worst economic downturn in the Eurozone is already behind it. However, short-term trends are likely to reflect the continued significant downside of EUR interest rates against the USD.

EUR may fall back to 1.0500/1.0600 before there is renewed buying interest in EUR.

Until the 2nd/3rd quarter, a more constructive EUR trend should develop.

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