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ING analyst Chris Turner argues EUR/USD is near its 2018 lows due to broad dollar strength, while the euro trade-weighted index is not as weak. He says eurozone growth has disappointed and the euro may need to fall further before it looks cheap.
Continued euro weakness would keep dollar-based commodity prices attractive to European buyers, supporting U.S. export demand while raising costs for euro-based importers.
think.ing.comChris TurnerOct 31, 2018After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
