EUR/USD faces further turmoil as political uncertainty looms, according to Macquarie

Key Takeaways:

  • 💶 EUR/USD expected to drop to $1.05
  • 🇪🇺 European parliamentary elections and French snap election cause political uncertainty
  • 🔥 French President Macron’s snap election seen as a major gamble
  • 🌍 Euroscepticism and political uncertainty could weigh on the euro
  • 🦅 Dollar strength and Fed’s hawkish outlook could suppress the euro

The Euro Faces Challenges Amidst Political Uncertainty

The Euro is facing downward pressure against the US Dollar, with forecasts indicating a potential drop to $1.05. This decline is attributed to various factors, including the European parliamentary elections and the snap election called by French President Macron. These political events have created uncertainty in the region, leading to concerns about Euroscepticism and its impact on the Euro’s value.

French President Macron’s decision to call a snap election is seen as a major gamble, adding to the overall political volatility in Europe. This move, coupled with Dollar strength and the Federal Reserve’s hawkish outlook, could further suppress the Euro in the coming months.

As political uncertainty continues to weigh on the Euro, investors and analysts are closely monitoring the situation to gauge the currency’s future performance. The outcome of the European parliamentary elections and the French snap election will likely have a significant impact on the Euro’s trajectory in the foreseeable future.

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