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Aug 02 - 12:55 PM

EUR: Outlook Still Clouded; Upside Likely Limited From Here - Credit Agricole

By eFXdata  —  Aug 02 - 10:45 AM

Credit Agricole CIB Research discusses the EUR outlook and sees a limited scope for further upside in the near-term.

"The EUR has been rather well supported last week, partly due to still unstable risk sentiment earlier last week, with increased funding attractiveness as driven by the ECB’s more cautious stance making the single currency more sensitive to higher cross market volatility," CACIB notes. 

"However, in the grand scheme of things, investors’ appetite for risk assets should remain supported as also implied by our FX Risk Index analysis which could still prove sufficient for keeping the currency in check from here," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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