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Politics may forged an extended shadow over the EUR this 12 months – Rabobank

“Whereas there’s nonetheless optimism that the slowdown in European progress will likely be shallow and momentary, politics may forged an extended shadow over the EUR this 12 months,” Rabobank analysts notice.

Key quotes

“It’s clear that the Yellow Vest protests in France have thrown President’s Macron’s market-friendly reformist agenda effectively astray. This issue coupled with the danger that the European Parliamentary elections may spotlight populist undercurrents within the area may weigh on the EUR into the spring. Yellow vest protesters have introduced that they may create an inventory of candidates for Might’s European parliamentary elections and this strengthens the view that Eurosceptic populists may win a louder voice in EU affairs.”

“Whereas we anticipate uneven buying and selling in EUR/USD over the approaching weeks because the market assesses financial and political developments in each the US and the Eurozone, we’re reluctant to rule out the danger of a transfer under the EUR/USD1.13 stage within the coming months.”

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