EUR/USD closed Tuesday above 1.0300. Credit Suisse economists keep their year-end target at 1.0350.
Upside surprise in Eurozone November CPI flash needed to propel Euro higher
“As for the EUR/USDlast week we suggested that the low of the CPI for October (November 10) in 1.0130 would be a tough nut to crackand so far the 1.0200 level hasn’t even been broken.”
“We see no reason yet to change our end-2022 target at 1.0350“.
“With the market pricing in around 60 basis points higher in the December 15 ECB, it will take something special, like an upside surprise in November CPI flash datawhich will be published on November 30, to push the Euro higher, forcing markets to price in a 75 basis point rise. Meanwhile, the fact that there is an effective floor on what can still be valued for December also undermines the case for further Euro weakness in the immediate future.”
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.
