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ANZ has released its latest currency outlook, and it presents a bearish view on the EUR/USD pair for the week, while showing a more optimistic stance on GBP/USD.
EUR/USD: Soft CPI Prints to Impact
- Softer CPI Data: According to ANZ, softer Consumer Price Index (CPI) prints may hamper the performance of the Euro (EUR) across the G10 currency pairs. This could, in turn, restrict any rallies against the U.S. Dollar (USD).
- Impact of Employment Data: The bank suggests that softer employment data, expected to be released next Friday, could also be a hindrance for the EUR against the USD.
GBP/USD: Quiet Week Could Be Favorable
- Consolidation Expected: With a quiet week ahead in the UK, ANZ expects the British Pound (GBP) to consolidate its position on the crosses.
Gains Likely Against EUR: ANZ’s analysis indicates that the GBP is most likely to see gains against the Euro this week.