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Dec 18 - 02:55 PM

EUR/USD: Targeting 1.24 In 1-Month Before Turning Lower - Danske

By eFXdata  —  Dec 18 - 01:30 PM

Danske Research discusses EUR/USD outlook and targets the pair at 1.24 in 1-month and 1.22 in 3-months, and 1.19 in 6-months.

"The near-term direction of EUR/USD remains in the hand of a declining USD versus all crosses and we lift our 1M forecast to 1.24 to reflect this. Among other things, we see the drivers as (1) rising Brexit deal expectations, (2) additional fiscal easing in the US seeming likely and (3) vaccines seeming to be well on track to improving the global situation," Danske notes.

"Looking ahead, the key tailwind from Chinese easing is fading as we go in to Q1, the European recovery remains two-paced and the US is likely more resilient towards a Chinese slowing," Danske adds. 

Danske Research/Market Commentary


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