FX BANK FORECAST · COVERAGE
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 39 institutional desks. No promotion.
EUR/USD: Lagarde’s dovish tilt weighs on Euro – ING tmgm.com
| Firm | Stance | YE 2026 |
|---|---|---|
UBS |
| Bullish |
| 1.1600 |
Scotiabank | Bearish | 1.0900 |
MUFG | Neutral | 1.1200 |
All 32 desk targets for EUR/USD
Desk synthesis pending
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How we cover this story
Fed hawkishness on inflation risks re-anchoring USD demand; EUR/USD 1.10 level breach signals momentum toward 2025 lows without fresh ECB stimulus signals.
Rising UST yields and hawkish Fed expectations are driving USD strength while Eurozone data deterioration leaves EUR without countervailing support.
US political gridlock reduces dollar-weakness risk from unilateral easing, while French election uncertainty and eurozone debt concerns create EUR/USD headwinds.
EUR/USD breaking below 1.1050 support with US PPI data looming signals potential for fresh downside if inflation print exceeds expectations.
Across six EM pairs, 23 desks show spot trading above median Dec-26 targets in four of six cases, with BRL the widest gap at +11%.
EUR/USD trades 3.32% below the 32-firm median Dec-26 target of 1.14, with a 0.135 dispersion range signalling deep disagreement on the path ahead.
EUR/USD spot sits 3.32% below the 32-firm median Dec-26 target of 1.14, with a 0.135 dispersion range signalling deep disagreement on the path.
32 investment banks see EUR/USD at 1.1455 by Dec 2026
View the live EUR/USD forecast