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Euro 1Q 2021 Forecast: Can the ECB Curb the Euro s Strength?
EUR price outlook for 1Q 2021
The ECB seems to have run out of ammunition in its battle to keep EUR/USD below the 1.20 level.
The clear break above 1.20 in December suggests the ECB is now unable to curb the Euro’s strength and that further gains are likely in the weeks ahead. Advertisement
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Euro Price Gains Likely in 1Q
The European Central Bank has made clear that it does not want to see EUR/USD above the 1.20 mark, once seen as its “line in the sand” for the pair, because of the negative impact of a strong Euro on both the Eurozone’s competitive trade position and its inflation rate. Yet it is hard to see what it can actually do about it now the pair is above that level, and that suggests further strength in EUR/USD in the weeks ahead.
British Pound (GBP) Latest - Talk of Brexit Compromise Boosts Sterling 2020-12-22 09:00:00 Nick Cawley, Strategist
Brexit News and Sterling (GBP/USD) Price, Analysis and Chart:
UK offer on fisheries closer to EU demands.
UK Q3 GDP revised higher.
Sterling firms on underlying bid. Advertisement
The UK has offered the EU a compromise on fisheries in an effort to break the current Brexit impasse. The offer is said to be a 35% reduction in the catch value with a five-year phase in period and is much closer to the EU’s original demand of a 25% reduction and may help to break the current deadlock. As yet there is no movement from the EU over the new proposal but the market seems to believe that a move may, or counter-offer, maybe on the cards. Sterling has picked up from yesterday’s sub-1.3200 low and currently trades around 1.3440, while EURGBP is back below 0.9100 after trading around 0.
Gold (XAUUSD) Price Slumps - Markets Rattled by Sharp Risk-Off Move 2020-12-21 12:25:00 Nick Cawley, Strategist
Gold (XAU/USD) Analysis, Price and Chart
Gold trades above $1,900/oz. before selling off sharply.
Markets under pressure as riskier-assets shunned. Advertisement
Gold is swinging around in early Monday trade as risk-markets come under pressure in holiday-thinned trading conditions. The precious metal has been moving higher of late and traded back above $1,900/oz. earlier today before sellers forced the price back down to just above $1,8500/oz. in around 30 minutes. This sell-off came despite a strong risk-off market theme as rising Covid-19 numbers, and mutations, unsettled investors.
Sterling Q1 2021 Forecast: GBP/USD Closing a Tumultous Year on the Front Foot 2020-12-20 01:00:00 Justin McQueen, Analyst
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GBP/USD Outlook – Less Uncertainty and a Soft USD Backdrop. Advertisement
There is a long-standing argument among market analysts - which is more important, technical, or fundamental analysis? This argument can go on for a long time but in the case of Sterling over the past few months, fundamentals – Brexit and Covid-19 – have been the main drivers of price action. What lies ahead?
One of the most liquid trading pairs, GBP/USD is closing the final quarter of the year on the front foot with gains of over 4%. EU-UK trade negotiations are going down to the wire with an outcome not known at the time of this analysis, though, the expectation is that a thin deal will be an