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Oct 04 - 12:55 PM

EUR/USD: More Downside Risks Ahead; Looking To Sell A Potential Uptick - Danske

By eFXdata  —  Oct 04 - 10:45 AM

Danske Research discusses EUR/USD outlook and looks to sell-on-rallies.

"EUR/USD saw some mild signs of stabilization on Friday, having dropped from 1.1850 to nearly 1.15 over the last few weeks. We continue to see more downside risk and would recommend to sell a potential uptick in EUR/USD. In our view, a host of factors are EUR-negative / USD-positives such as the surging European energy prices, rising interest rates globally and further evidence of a cyclical slowdown in the manufacturing sector," Danske notes. 

"The key data release this week will be the US payrolls and 300k+ is probably enough to keep Fed on track for tapering this year, depending also on the details of the report," Danske adds. 

Source:
Danske Research/Market Commentary

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