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Oct 30 - 02:55 PM

EUR/USD: On The Defensive Ahead Of A Volatile Week; What's Next? - Credit Agricole

By eFXdata  —  Oct 30 - 01:30 PM

Credit Agricole CIB Research discusses EUR/USD outlook into next week's US elections. 

"We assume that postelection uncertainty in the US would drag on for a while longer after Election Day, with investors maintaining their defensive stance across the board. This could help the USD and weigh on the EUR," CACIB notes. 

"That said, evidence of a decisive Democratic victory next week could weigh on the USD and propel EUR/USD back to the highs of its recent 1.17-1.1950 trading range.

Equally, evidence that the status quo may be preserved – eg, a surprise re-election of President Trump and a Republican control of the Senate – could push EUR/USD closer to its recent lows around 1.1600," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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