EUR: Hesitating in pushing cleanly through the 1.1300 levels – RBC CM

In view of analysts at RBC Capital Markets, EUR has so far hesitated in pushing cleanly through the 9 November high of 1.1300 despite recent USD weakness.

Key Quotes

“Whether this level can be broken may come down to the ECB, but our rates team look for forward guidance to be at the lower end of expectations (dropping ‘or lower’ when describing future rates but not going further). We look for Draghi to drive home the message that the ECB is still far from meeting its mandate on inflation.”