The Middle East war and Europe’s energy dependence
EUR/USD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
UOB | Bearish | 1.1140 |
ABN AMRO | Bullish | 1.1500 |
Bank of America | Bullish | 1.1500 |
All 28 desk targets for EUR/USD
From the original
Sustainability The Middle East war and Europe’s energy dependence Marco Kisic 27-04-2026 3 min to read The strategic rationale for renewable energy and electrification has never been clearer for the EU, now that the second energy crisis in four years has reminded us of the value
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The desk believes that Europe's accelerating energy transition is not only crucial for reducing dependencies on fossil fuels but also presents an opportunity for strategic currency positioning. Per the full note by Marieke Blom, Europe has made significant strides, with primary energy demand decreasing by 20% over 20 years, particularly since the onset of the Ukraine conflict. This aligns with broader expectations of sustained efforts towards a carbon-neutral future. As we assess the EUR/USD dynamics, consensus targets remain crucial as firms align their expectations based on evolving energy policies.