EUR/USD outlook: Remains under increased pressure from higher Dollar/Oil prices
Euro still hovering around downtrend resistance line as drop pressure still affect market As long as market holding trades below resistance 1.1240-80 the drop pressure may sustain toward target and support 1.1065 which in turn may push for rebound correction Above 1.1350 more advance is likely Below 1.1065 more drops is likely SUPPORT RESISTANCE […]
The Euro to Dollar (EUR/USD) exchange rate slipped to 1.1182 on Monday as French fiscal worries and renewed Middle East tensions kept the US Dollar supported. US inflation figures and Eurozone price data could decide whether the sell-off extends.
On the one hand, the Russia-Ukraine energy ceasefire and the prospect of additional Russian diesel supplies are giving sellers reason to be optimistic. However, increased attacks around the Strait of Hormuz and strikes on Saudi Arabia are keeping oil prices supported.
EUR/USD: Sellers fail to penetrate 9th-order demand massif
Euro: Bearish sentiment persists into year-end against US Dollar – MUFG
US dollar holds firm ahead of Wednesday's CPI report as DXY targets 102.49, EUR/USD risks a break below 1.1180, and GBP/USD struggles beneath 1.3284.
Euro: Downside risks toward 1.1145 against US Dollar – UOB
EUR/USD Price Forecast: Gets some relief from Russia-Ukraine energy ceasefire
EUR/USD Recovery Outlook: UBS Questions European Risk Discount The Euro could recover against the US Dollar as investors reassess European risks and crowded currency positions, according to UBS strategists. UBS expects the Euro to recover to $1.20 by June 2027, arguing that a rush towards the US Dollar has pushed the exchange rate below.
It's been a brutal five-week stretch for the Euro and while US Treasury yields have flown to fresh multi-decade highs, it's the run in French yields that's perhaps presented even more concern, even despite French yields being inside of US rates. The issue isn't an unfamiliar one as it strikes the same chord that presented issues with the sovereign debt crisis now almost 15 years ago, and this speaks to the experiment of a supra-national currency representing a very wide swath of economies that don't have shared budgets or debts.
The Euro could recover against the US Dollar as bearish bets unwind, but Rabobank expects French fiscal risks to limit the rebound's staying power. Rabobank expects a Euro recovery towards 1.13 against the US Dollar in the coming weeks, as calmer French bond markets give investors an opportunity to close bearish currency.