EUR/USD remains under pressure – Danske Bank

Jakob Christensen, Chief Analyst at Danske Bank, sees the pair under extra pressure in short term.

Key Quotes

“Key in majors this week will be the ECB meeting on Thursday: albeit no new staff projections are likely to be presented, we look for Mario Draghi to strike a somewhat softer tone on growth, which should weigh a bit on the euro”.

“Indeed, a hesitant ECB in April should help EUR/USD slide within the recent range, a move which could further facilitate now (even more) stretched positioning”.

“Also keep an eye on the ongoing US earnings season: if unhedged equity flows into the US gather pace it could mean USD support”.