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[FX Trends] Room for EUR upside, but mixed prospects for others

26 Jun 2023

Key Takeaways

  • Our bearishness on the US Dollar Index (DXY) mostly reflects our near-term EUR view
  • Renewed uptick in Eurozone core CPI could see EUR gain over the near term…
  • …but we see mixed prospects for others: the JPY and AUD steady, the NZD softer, and the CAD stronger

Our tactical view

Table of tactical views where a currency pair is referenced (e.g. USD/JPY):An up (⬆) / down (⬇) / sideways (➡) arrow indicates that the first currency quotedin the pair is expected by HSBC Global Research to appreciate/depreciate/track sideways against the second currency quoted over the coming weeks. For example, an up arrow against EUR/USD means that the EUR is expected to appreciate against the USD over the coming weeks. The arrows under the “current” represent our current views, while those under “previous” represent our views in the last month’s report.

Explanation of terms

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