#EURUSD @ 1.09107 : Sideways shuffle and subdued volatility until the May ECB and FOMC meetings – SocGen
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
EUR/USD logjammed at 1.09. Economists at Société Générale expect the pair to see tedious price action.
“EUR/USD continues to struggle above 1.09 but to the downside we think risks are limited which could be a recipe for sideways shuffle and subdued volatility until the May ECB and FOMC meetings.”
“The 2y US yield must ideally either retrace to 3.64%/3.55% or advance through 4.15%/4.25% to break the tedium in EUR/USD.”
“Rate cuts in the US later this year (not our base case) would help EUR/USD to move beyond 1.10. Conviction of a decisive break remains low, however, and buyers are unlikely to test the upper end of the range until there is greater visibility on where US and Eurozone interest rates peak and whether a recession in the US is forthcoming or not.”
[/s2If]
Join Our Telegram Group
