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Oct 16 - 09:55 AM

EUR/USD: Relatively Neutral N-Term On Conflicting Signals; More ECB Easing Ahead - Credit Agricole

By eFXdata  —  Oct 16 - 09:00 AM

Credit Agricole CIB Research adopts a neutral bias on EUR/USD and flags a scope for further ECB easing in the coming months. 

"The EUR/USD’s recent rebound has come to an end after the USD managed to recoup some lost ground while the EUR remained heavy against other majors like the GBP, the JPY and the CHF. We maintain a relatively neutral outlook for the cross because of the conflicting signals that various FX drivers are sending at the moment," CACIB notes. 

"Looking ahead, focus will be on the Eurozone October PMIs that could tip the balance of risks in favour of more ECB easing ahead of its October meeting and thus weigh on the EURUSD" CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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