#EURUSD @ 0.99830 to test month’s cycle low near 0.9865 – BBH
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EUR/USD is trading just below parity. Economists at BBH expect the world’s most popular currency pair to challenge the 0.9865 mark.
“With the fundamentals deteriorating, we still look for a test of this month’s cycle low near 0.9865.”
“Bundesbank noted ‘there are increasing signs of a recession of the German economy in the sense of a clear, broad-based and longer-lasting decline in economic output.’ September PMI readings out this Friday should confirm what markets already know, and that is Germany is already in recession.”
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