EUR/USD: Gains through 1.0885 should trigger another leg higher – Scotiabank

Market news

16 November 2023

EUR/USD: Gains through 1.0885 should trigger another leg higher – Scotiabank

EUR/USD is just about trading in the green on the day. Economists at Scotiabank analyze the pair’s outlook.

Upside risks remain

In broad terms, data surprise trends are improving for the EUR and weakening somewhat for the USD – a trend that may continue in the near term, with the US economy showing clear signs of slowing and anticipated headwinds for Europe (mild weather is once again easing energy concerns) failing to develop so far.

EUR/USD gains through 1.0885 should trigger another leg higher in spot.

Support is 1.0810 and 1.0750.

US Dollar steady ahead of no less than five Fed speakers

USD Index Price Analysis: Another drop to 104.00 remains in store

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