The US presidential race in 2016 led President Trump to power on November 8. The EUR/USD opened in 1.09 that day and fell to a minimum of 1.03 in the middle of the chaos of January 2017. After that, the EUR/USD recovered as the US economic data deteriorated and the markets began to speculate on a possible increase in the ECB rates, says the division analyst of Société Générale, Juckes Kit.
EUR/USD repeat your own 2017-2018 movements
“At the June 2017 Sintra meeting,” an Vent d’E optimisme to Soufflé Sur Les Forêts d’Ecalyptus’, according to ‘Le Monde’. Amid the emotion for the standardization of the ECB policy, the EUR/USD reached 1.14 in the middle of the year and 1.20 in August, then reached a maximum above 1.25 in February 2018 before falling to 1.15 at the end of 2018, 1.12 at the end of 2019, and briefly to 1.07 in March 2020 when the COVID unleashed chaos in the economy and global markets. “
“If we observe the EUR/USD movements in relation to the evolution of the growth forecasts of the consensus GDP, EUROZONA LESS US 2018, the US forecast increased constantly while that of the Eurozone retreated. “
“The monetary parallel is stronger than the economic one. At this time, the growth forecast of the US consensus for this year remains stable around 1.4% after collapsing in March/April from 2.3%. The forecasts of the Eurozone barely begin to increase from a minimum of 0.8% earlier this month to 1% now. USA are kept anchored while the Eurozone consensus advances slightly. “
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.
