EUR/USD: Well-supported towards year-end as ECB not expected to cut rates – Commerzbank

Economists at Commerzbank still expect a solid EUR/USD performance this year.

ECB to resist rate cuts next year

“50 bps more or less, as we have often stressed here, matter less for the Euro than the fundamental monetary policy outlook.”

“Our ECB watchers continue to expect the ECB to resist rate cuts next year. As long as this is the case, while the Fed is cutting, it still seems plausible to us to bet on well-supported EUR/USD levels towards the end of the year.”