Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Nov 16 - 02:55 PM

EUR/USD: May Stay Under Pressure N-Term But A Lot Of Negatives In The Price Now - Credit Agricole

By eFXdata  —  Nov 16 - 12:30 PM

Credit Agricole CIB Research discusses the EUR outlook and see it close to bottom over the coming weeks.

"A perfect storm has engulfed the EUR of late as fears about the impact of the fourth wave of the Covid pandemic aggravated market concerns about mounting stagflation risks to the Eurozone recovery and validated the dovish ECB forward guidance. The EUR can continue to struggle in the very near term also because it is the G10 currency with one of the weakest relative balance of payment positions," CACIB notes. 

"All that being said, we also believe that a lot of negatives are in the price of the currency by now...We further note that both EUR/USD and EUR/GBP are now looking undervalued relative to their short-term fair value according to our FAST FX model," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2021 eFXdata · All Rights Reserved
!