EUR/USD experienced another month of volatility, having fallen below the 1.05 mark in October only to appreciate at the beginning of November to slightly above the 1.07 level. Economists at the National Bank of Canada analyze the pair’s outlook.
EUR set to weaken on slow economy and rate cuts
It would be fair to say that the current improvement is not predicated on a sizeable enhancement of the economic situation. Moreover, the central bank has almost assuredly reached the endpoint of tightening monetary policy.
While the Euro has seen some appreciation recently, it was reflective of a weaker US Dollar.
We continue to see weakness for the European currency in the coming quarters with the potential for some improvement later in 2024.
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