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EUR/USD seen at 1.25 by year-end - Commerzbank

FXStreet (Córdoba) - A total of four G10 central banks are due to take a monetary policy decision next week. According to Esther Reichelt, analyst at Commerzbank, if the Federal Reserve Bank sticks to its normalisation schedule as expected that is likely to support USD.

Key Quotes

“EUR/USD took a breather in its depreciation trend in October. The strong USD and concerns
about weaker global economic growth fuelled speculation that the Federal Reserve might
normalise its monetary policy more slowly than previously expected”.

“The FOMC meeting on Wednesday might end this speculation for the time being, thus supporting USD. Even though the Fed is likely to leave its communiqué largely unchanged, an end to bond purchases would signal to the markets that the Fed is sticking to its normalisation course”.

“That would benefit USD and as a result we would expect slightly lower EUR/USD levels around 1.25 by year-end”.

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