What is the outlook for EUR/USD as we head into the US election?
Here is their view, courtesy of eFXdata:
Credit Agricole CIB Research discusses EUR/USD outlook into [this] week’s US elections.
“We assume that postelection uncertainty in the US would drag on for a while longer after Election Day, with investors maintaining their defensive stance across the board. This could help the USD and weigh on the EUR,” CACIB notes.
“That said, evidence of a decisive Democratic victory next week could weigh on the USD and propel EUR/USD back to the highs of its recent 1.17-1.1950 trading range.
Equally, evidence that the status quo may be preserved – eg, a surprise re-election of President Trump and a Republican control of the Senate – could push EUR/USD closer to its recent lows around 1.1600,” CACIB adds.
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