EUR/USD remains virtually unchanged following the ECB’s monetary policy announcement. The economists of MUFG Bank They analyze the pair’s prospects.
EUR/USD moves will be boosted by weaker US economic data.
A new energy rally due to the expansion of the conflict between Israel and Hamas to include Iran is a risk for Europe and the EUR more specifically. We currently assume that will not happen.
We believe that the main driver of EUR/USD movements will come from the US Dollar side and will be driven by the emergence of weaker US economic data.
He EUR/USD remains resilient, but we still see room for a more sustained break below 1.0500although we maintain that levels below parity are unlikely.
Source: Fx Street
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