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EUR/USD on a rollercoaster experience – Danske Financial institution

Piet P. H. Christiansen, senior analyst at Danske Financial institution, explains that the EUR/USD pair notably took a rollercoaster experience yesterday on weak PMIs, the ECB assembly and unfavorable feedback from US commerce secretary, Ross on the commerce deal outlook with China.

Key Quotes

“We nonetheless suppose the primary hike is a tad too distant/fragile for FX markets to ship EUR considerably increased, however as H1 progresses, we anticipate the following stage in a EUR/USD rebound to reached through a US-China commerce deal.”

“Related CNY appreciation would additional assist preserve the efficient EUR from strengthening an excessive amount of which might in flip pave the way in which for ECB. For true lift-off in EUR/USD in the direction of the excessive 1.20s as warranted by valuation, we have to get nearer to affirmation that the ECB intends to maneuver on charges – and that can probably not occur till H2, however we’re steadily transferring in that course.”

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