EUR/USD set to move towards 0.90 in Q4 – Credit Suisse
|EUR/USD has seen its weakest level in over two decades at around 0.9550. Economists at Credit Suisse now target 0.9000 for the fourth quarter.
European Central Bank has few tools to cope with current threats
“EUR/USD has benefited from ECB rate hike aggression, but this failed to stop it falling in Q3. Deeper problems such as energy shortages, the risk of a new phase of the Russia/Ukraine conflict and even the possibility of an Italian debt debacle lurk as valid threats in Q4.”
“The ECB has few tools to cope with these threats, perhaps even the Italian one if that country’s new government tests the EU’s patience with new fiscal plans.”
“We can see EUR/USD moving towards 0.9000 in Q4.”
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