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Oct 10 - 02:55 PM

EUR/USD: Euro To Remain Under Pressure Amid Tight Global Financial Conditions - Barclays

By eFXdata  —  Oct 10 - 01:30 PM

Barclays Research maintains a bearish bias on EUR/USD in the near-term.

"The adverse ToT shock along with the global tightening in financial conditions remain a downward influence on the euro. In this context, further hikes by the ECB can only offer marginal support to the currency. Instead, a Fed in hawkish overdrive continues to supercharge the dollar," Barclays notes. 

"More structurally, subpar ex-US growth and timid China stimulus imply the dollar down cycle is quarters away. ECB speakers this week include President Lagarde and Chief Economist Lane," Barclays adds. 

Source:
Barclays Research/Market Commentary

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