EUR/USD: Bending Not Breaking The Range; Where To Target? – NAB

EUR/USD slipped below 1.15 but then managed to recover and stabilize. What’s next?

Here is their view, courtesy of eFXdata:

NAB discusses EUR/USD outlook and sticks to its EUR forecasts of 1.18 for Dec with EUR still likely to be largely range-bound till the end of the year.

“A tentative relative pick-up in EZ inflation should see the EUR lift in 2019. Nevertheless, a more significant turn will likely require signs that the Fed hiking cycle is reaching a pause/peak or a thawing of the US-China trade war.

Both of these look unlikely in the near-term and with the possibility of USD strength persisting for a while longer yet – accordingly we have shaved our Q1 2019 forecast by 2 cents to 1.20; all other forecasts are unchanged,” NAB argues.

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