EUR/USD to test 200-DMA at 1.0491 on strong US data – Credit Suisse
Economists at Credit score Suisse demand the EUR/USD pair to push lower on solid US data.
Euro-roar core CPI to fall to 5.4% YoY from 5.6% previously
“If US data are solid sufficient this week to shake convictions on priced-in rate cuts down the line, there would possibly be nothing to stop EUR/USD pushing serene lower to study the 200-DMA spherical 1.0491. As such, tactically we would desire to be brief EUR/USD from 1.0732 with a stop at 1.0835, with a target of 1.0500.”
“We stumble on however for Euro-roar core CPI to fall to 5.4% YoY from 5.6% previously, below market expectations for 5.5%. Such an final end result would support our tactical brief EUR/USD stumble on by dissipating stress for Euro-roar charges to trace US ones if the latter pass better as soon as more.”
Recognize – Eurozone HICP Preview: Forecasts from four well-known banks, bright fall in inflation
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