EUR/USD seen at 1.04 in the short-term – Danske Bank

Jakob Christensen, Chief Analyst at Danske Bank, believes the pair could drop to the 1.04 area within a 3-month view.

Key Quotes

“EUR/USD dipped below 1.06 again yesterday”.

“The calendar this week is highlighted by (1) the release of November’s US jobs report on Friday, which is likely to cement a Federal Reserve December rate hike and (2) the Italian constitutional referendum on Friday, which could be a ‘No’ and lead to higher political uncertainty in Italy”.

“This cocktail does not bode well for EUR/USD, which we still see falling to 1.04 on 3M”.