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Home EUR/USD

EUR/USD set to drop substantially towards the 1.10 level – Scotiabank

City Kings Holdings by City Kings Holdings
January 7, 2022
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EUR/USD set to drop substantially towards the 1.10 level – Scotiabank
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EUR/USD continues to commerce in a 1.1225-1.1385 channel since late-November. Upside momentum over the previous few days has been restricted and economists at Scotiabank anticipate the world’s hottest foreign money pair to float decrease in the direction of the 1.10 degree.

ECB is unlikely to extend charges earlier than late-2023

“We predict it’s extra doubtless that the Fed hikes by 100bps this 12 months (markets are at 75bps) than the ECB hikes by 10bps – with OIS markets penciling a primary ECB enhance in October. The 50bps in price will increase that markets are seeing by end-2023 could be a pointy turnaround from the ultra-dovish ECB.” 

“As markets regulate expectations across the Fed and the ECB, EUR/USD losses towards 1.10 ought to resume.”

“Assist is ~1.1270/85 adopted by 1.1260 and 1/1235/40.” 

“Key resistance is the 50-day MA at 1.1351 and the current excessive of 1.1386.”



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