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EUR/USD rose to 1.07 after the hawkish ECB shock. Economists at Nordea count on the pair to stretch greater towards 1.10 over the following month.
EUR/USD seen at 1.13 by the top of 2023
“A excessive risk of a brand new yr rally in inventory markets (which might favour a weaker USD) along with a price differential which has moved in favour of the EUR suggest a excessive probability for EUR/USD to maneuver even greater than the present 1.06. We imagine that from a tactical perspective, EUR/USD is more than likely to see 1.10 over the following month.”
“Our 3M forecast of EUR/USD at 0.99 appears too optimistic on behalf of the USD given how markets have modified their view on the Fed in comparison with the ECB these days. Nevertheless, we nonetheless keep our draw back bias in EUR/USD in 3M to 6M as we see stocks taking a tumble decrease on the again of upper charges than markets at the moment anticipate.”
“General, EUR/USD all the way down to the 1.04 space appears extra affordable than 0.99 within the subsequent 3M. Longer out, a profitable reopening in China and a pause in price hikes level towards the next EUR/USD. We see EUR/USD at 1.13 by the top of 2023.”
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