Broader G10 FX Pricing Seen Key for EUR/USD in 1H -- Market Talk

Dow Jones01-26

0908 GMT - Danske Bank Research's forecasts for the Federal Reserve and European Central Bank's first rate cuts--March for the Fed and June for the ECB--are positive for EUR/USD in the first half of 2024, but the broader pricing among G10 countries could be more important, Stefan Mellin, chief analyst in FX strategy, says. "We believe that the broader pricing in the G10 could be more decisive for the cross, as we perceive current market expectations for rate cuts to be excessive," he says in a note. Danske Research maintains its bias toward selling EUR/USD on rallies in the near-term, he says, forecasting EUR/USD at 1.07 on a six-month horizon and 1.05 in 12 months' time. EUR/USD is down 0.1% at 1.0839. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

January 26, 2024 04:08 ET (09:08 GMT)

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Danske Research maintains its bias toward selling EUR/USD on rallies in the near-term, he says, forecasting EUR/USD at 1.07 on a six-month horizon and 1.05 in 12 months' time. EUR/USD is down 0.1% at 1.0839. 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Danske Research maintains its bias toward selling EUR/USD on rallies in the near-term, he says, forecasting EUR/USD at 1.07 on a six-month horizon and 1.05 in 12 months' time. EUR/USD is down 0.1% at 1.0839. 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Danske Research maintains its bias toward selling EUR/USD on rallies in the near-term, he says, forecasting EUR/USD at 1.07 on a six-month horizon and 1.05 in 12 months' time. EUR/USD is down 0.1% at 1.0839. 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