EUR/USD: Rebound may have already peaked just shy of 1.05 – Crédit Agricole
Economists at Crédit Agricole CIB Research believe that the EUR/USD pair may have already peaked just shy of the 1.05 level last week.
A recession will be hard to avoid
“The EUR failed to benefit much from the broad risk-on tone that saw equity gains coupled with a sharp correction in energy prices on Friday. On the data front, this week’s flurry of Eurozone leading indicators for November could increasingly provide evidence that a recession will be hard to avoid, which could in turn limit the EUR’s appeal, especially as it will imply a difficult reality check by the ECB.”
"The EUR/USD rebound may have already peaked when it spiked just shy of 1.05 last week, as real rate spreads hint at some consolidation lower going into year-end.”
Reprinted from FXStreet_id，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.