EUR/USD stays rangebound as US-Iran tensions ease and traders await the US CPI report
EUR/USD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
BNP Paribas | Bearish | 1.1500 |
UBS | Bullish | 1.1800 |
UOB | Bullish | 1.1800 |
All 30 desk targets for EUR/USD
From the original
FUNDAMENTAL OVERVIEW USD: The US dollar gave back most of its gains after Trump walked back on his hawkish rhetoric and said that negotiations would continue, claiming that Iran called him to make a deal. That was enough to trigger a dovish repricing in interest rate expectations
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4 itemsEUR/USD remains rangebound amid the prolonged US-Iran stalemate and widely expected hikes
The desk maintains a cautious outlook on EUR/USD, anticipating continued rangebound trading amid geopolitical tensions and central bank policy uncertainty. Per the full note [source], the US dollar has found some support as US-Iran negotiations stall, while the Fed's shift away from an easing bias is underscored by resilient economic data. With the market pricing in an 84% chance of a June rate hike from the ECB, the euro faces headwinds despite the potential for inflationary pressures to influence Fed policy. Upcoming US CPI data could serve as a catalyst for volatility in the pair.
EUR/USD stays rangebound ahead of ECB policy announcement as traders await Trump's decision on Iran
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