Jakob Christensen, chief analyst at Danske Bank, suggests that they are stressing that EUR/USD is in the hands of policy makers.

“The current policy inaction will keep EUR/USD in the current range, while it creates downside risks to our 1M and 3M forecasts of 1.12 and 1.13 if it further deteriorates risk sentiment. If policy makers in the US and China step up and manage a trade deal and/or ease monetary policy it would create the foundation for a higher EUR/USD. This is not a story for the short-term, though.”