What is the outlook for EUR/USD in the coming months?
Here is their view, courtesy of eFXdata:
Citi maintains a structural bullish bias on EUR/USD over the coming months.
“CitiFX Strategy remains bullish EURUSD with a target of 1.30, based on a cyclical recovery, the search for value, diversification, changes in hedging and funding patterns and an ECB that is less dovish relative to the Fed,” Citi notes.
“In the short-term, we think further upside could come from relatively clean positioning, continued outperformance of the cyclical sectors, optimism around US fiscal stimulus, and low US real rates. This week, we watch Eurozone Core CPI and Germany Factory Orders on Thursday, and Germany Industrial Production on Friday,” Citi adds.
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