EUR/USD: Advance may be limited from here – MUFG

Market news

27 November 2023

EUR/USD: Advance may be limited from here – MUFG

The macro backdrop in the Eurozone remains challenging. Therefore, economists at MUFG Bank do not see further upside for the EUR against the USD.

Upside limited from here

The still weak economic backdrop in the Eurozone and the signs of increased confidence in lowering inflation could see increased ECB easing speculation that lowers yields further in the Eurozone.

Political uncertainty and social unrest risks are also rising which combined may act to limit EUR advances from here.

See: EUR/USD set to correct to the 1.0825/1.0850 area this week – ING

Gold Price Forecast: XAU/USD to confirm an extended uptrend once $2,070/$2,075 is overcome – SocGen

ECB’s Lagarde: Headline inflation may rise again slightly in the coming months

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