There will be no major risk events in the Eurozone next week

Huitong Network2month24Daily News - Friday(2month24day)Mitsubishi Tokyo UFJ(BTMU)Indicating a bullish outlook on the euro against the US dollar next week, with a target range1.0450-1.0800; Bearish USD/JPY, target range111.00-114.50. The specific viewpoints are as follows.

Mitsubishi Tokyo UFJ: bullish EUR/USD next week, bearish USD/JPY

Bullish EUR/USD, target range1.0450-1.0800
There will be no major risk events in the eurozone next week, so the current momentum will have a significant impact on the exchange rate. Federal Reserve announces2After the minutes of the monthly monetary policy meeting, there is no real support for selling the US dollar, but the weaker US dollar momentum may continue. Another obvious risk is that the risk of French elections will increase again, which will drag down the euro further, and the performance of polls will be crucial.

according toFX678Observing, the bank stated that the core economic data to be monitored next week is next Tuesday(2month28day)Announced Eurozone2Monthly and quarterly adjusted consumer price index(CPI). Any unexpected upward trend in this data will strengthen the expectation of the European Central Bank cutting its bond purchases later this year, which will help support the euro. Considering the uncertainty of European elections, the upward movement of the exchange rate is unlikely to be strong.

Bearish USD/JPY, target range111.00-114.50
Next Sunday, the economic data for this week is light, and there are no events that could trigger significant market fluctuations. The market believes that the Federal Reserve2The position in the minutes of the monthly monetary policy meeting is more dovish, but it is unknown how long this conclusion will last.

Several Federal Reserve officials will deliver speeches next week, including the Dallas Fed Chairman2017yearFOMCVoting committee member Kaplan, San Francisco Fed Chairman Williams, St. Louis Fed Chairman Brad, and Cleveland Fed Chairman Mest. However, the core US economic data is next Wednesday(3month1day)The United States to be announced1monthPCEPrice index. The US non farm payroll data, originally scheduled to be released on the first Friday of each month, will be postponed to3month10Announced daily.

Huitong Network pointed out that the bank stated that if political risks in Europe rise again, risk appetite seems to be more inclined towards hedging, so the yuan is expected to strengthen next Sunday.
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