Tuesday, June 5, 2018

Where to send EURUSD EURGBP Credit

Where to send the EUR / USD, EUR / GBP? - Credit Agricole

EUR: The ECB is of further currency weakness.

In line with market expectations, we expect that the ECB will take over the obligation of a sovereign QE this week ... we do not exclude that there will be more aggressive ads to have a significant impact on inflation expectations.

The Fed will focus on the further improvement in labor market conditions, to direct the expectations of changes in interest rates.

We downgrade our / USD forecasts 1M and 3M EUR 1,13 and 1,10, respectively.

GBP: limited impact of these labor.

The main focus this week will be data on employment and the minutes of the Bank of England meeting.

... .we look forward to further weakness of GBP against the US dollar. EUR / GBP, however, likely to downward trend against the background of a softer ECB stance.

Given our forecast of EUR changes, our 1M and 3M EUR / GBP forecasts are now 0.73 and 0.74, respectively.

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