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15 Jan 2016
EUR/USD to rise in 2016, no matter how low oil goes - Danske
FXStreet (Córdoba) - According to analysts from Danske Bank, EUR/USD will move in ranges in the near-term but will rebound later.
Key Quotes:
“Caught in 1.05-1.10 range for now, then rebound on no renewed policy divergence and strong EUR fundamentals.”
“We expect EUR/USD to rise in 2016, with or without low oil prices. The shale boom has reduced US import dependency substantially, while eurozone net imports are little changed in recent years and are now almost double those of the US.”
“Commodity terms of trade continue to support the EUR versus the USD as the eurozone is now experiencing a significant ToT (terms of trade) improvement.”
Key Quotes:
“Caught in 1.05-1.10 range for now, then rebound on no renewed policy divergence and strong EUR fundamentals.”
“We expect EUR/USD to rise in 2016, with or without low oil prices. The shale boom has reduced US import dependency substantially, while eurozone net imports are little changed in recent years and are now almost double those of the US.”
“Commodity terms of trade continue to support the EUR versus the USD as the eurozone is now experiencing a significant ToT (terms of trade) improvement.”