Chief Analyst at Danske Bank Jakob Christensen still sees the pair navigating the 1.04/1.09 range in the next periods.
“The USD traded with a weak tone again on Friday. The headline non-farm payroll was strong but wage growth was weak. Hence, the data did not support expectations that the Fed could raise interest rates in the spring and the market will again have to focus on Trump and potentially European policies”.
“While the option market is beginning to price in the risk of the French presidential election on 23 April and 7 May, it has yet to have an impact on the euro (EUR) despite increasing the risk that Francois Fillon’s chances, until recently the leading presidential candidate, are faltering due to a corruption scandal”.
“Currently, we see EUR/USD in a wide 1.04-1.09 range with risk skewed towards a break to the upside”.
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