EUR/USD: Trading as a credit bond – Danske Bank

Market news

27 March 2020

EUR/USD: Trading as a credit bond – Danske Bank

FXStreet reports that according to analysts at Danske Bank, EUR/USD has broken above 1.10 and in the short run it may trade in the 1.10-1.12 range.

“We continue to see coronavirus numbers peaking over the next few weeks, financial stress is coming down with the economic help from global fiscal policy.”

“EUR/USD trades as a credit bond, so good news is good news for EUR and bad news, irrespective of the country origin, is bad news for EUR.

“Looking ahead to H2, we stick to our call for 1.07.”

European session review: USD weakens against GBP and safe-haven currencies but gains against EUR and most commodity currencies

U.S.: PCE price index ex food, energy, Y/Y, February 1.8% (forecast 1.7%)

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