EUR/USD to 1.0700 by Q2 – Deutsche Bank
Source Fxstreet
Economists at Deutsche Bank expect the US Dollar (USD) to remain strong over the year and forecast EUR/USD at 1.0700 in the second quarter.
Dollar to stay strong in 2024
We expect the EUR/USD pair to stay weak through 2024.
We expect EUR/USD at 1.0700 in the second quarter, but risks are skewed towards a strong Dollar, with EUR/USD revisiting 1.0500.
US election is a key driver as markets add to a USD safe-haven premium as election risks build into the second half of the year.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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The technical analysis of the daily chart indicates a prevailing bullish bias, with the pair remaining within the ascending channel pattern.
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Gold catches fresh bids on the last day of the week amid reviving safe-haven demand.
From a technical perspective, the black liquid has been trending lower along a downward-sloping channel since late October.
The pair depreciates as the Pound Sterling (GBP) weakens following the Bank of England’s (BoE) dovish hold in November.
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