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May 06 - 09:55 AM

EUR/USD: Expecting A Return To 1.21-1.22 Level N-Term - Danske

By eFXdata  —  May 06 - 08:30 AM

Danske Research discusses EUR/USD outlook and sees  a scope for a move towards 1.21-1.22 level in the near-term.

"The pair is facing a cross roads between bottlenecks potentially hindering further acceleration in global manufacturing activity, which would be EUR/USD negative, and the prospects of significant pent-up demand in particular in the US adding to inflationary pressures, which would be EUR/USD positive," Danske notes. 

"We think the latter will be the main focus in the short-term and could see the pair return to the 1.21-22 level," Danske adds.

Danske Research/Market Commentary


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