Nomura’s near term EUR/USD forecast – range bound below 1.10 | Forexlive

Nomura retain a relatively neutral outlook for EUR/USD in the coming weeks, saying that the composite PMI for the euro area indites economies are still underperforming relative to US growth.

EUR/USD to remain near-term range bound

• not likely to rise above 1.10
• and any move over 1.09 will likely be only a short some

Nomura says the market is eyeing which of the Fed or ECB will cut first and pondering which will cut to a greater extent, only then will EUR/USD cease being rangebound