The economists of ING They foresee an upward trend in the EUR/USD pair during the second half of 2024.
The Fed is the main driver of EUR/USD
The Fed is, and should remain, the most important driver of EUR/USD: we think it will cut rates more than markets expect and, above all, about 50 basis points more than the ECB.
Since we also expect both central banks to start easing rates in June, we expect a further rally in EUR/USD in the second half of the year., when the convergence of short-term rates USD:EUR should accelerate. Our target is 1.1400 in the fourth quarter of 2024.
Rising geopolitical tensions, upward pressure on energy prices and a possible re-election of Donald Trump could lead to a stronger Dollar.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
