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EUR/USD destined for lower yet - Rabobank

FXStreet (Barcelona) - Jane Foley, Senior Currency Strategist explained that while they see risk that EUR/USD be squeezed higher towards the EUR/USD1.27 level in the coming weeks, they remain of the view that the currency pair will trend lower medium-term.

Key Quotes:

“This week has brought shockingly weak German August factory orders and industrial production data; the latter dropped -4.0% m/m. There is risk that the ECB will have difficulty in expending its balance sheet hugely with the policy measured it has already announced and could yet be pushed into QE early next year”.

“In view of the contrasts between US and core Eurozone economic performance and the resultant divergence between policy paths of the ECB and Fed, we expect EUR/USD to trend towards 1.22 on a 12 mth view”.

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