EUR/USD: Guided by the central banks – Danske Bank
|Vladimir Miklashevsky, senior economist at Danske Bank, notes that the EUR/USD rose when ECB failed to satisfy a dovish priced market two weeks ago as ECB needs a weaker EUR and Draghi could try to right the market, when he opens the annual Sintra conference today, or more likely tomorrow morning in his introductory remarks.
Key Quotes
“At this stage we do not think words will be able to move EUR/USD – the market is looking for actions. On this regard, the FOMC meeting Wednesday will be the more important monetary policy event for EUR/USD this week as we look for Fed to prepare the market for a July cut. In turn this should pave the way for EUR/USD to move to 1.15 in 3M and outperform FX forwards.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.