EUR/USD focused on the House vote – Danske Bank

Analyst Mathias Mogensen at Danske Bank noted the relevance of the ‘Trumpcare’ bill as a near term driver for the pair.

Key Quotes

“With the postponement of the US health care bill vote, yesterday marked the quietest session in an already quiet week for FX markets”.

“The most obvious trigger for FX volatility is the (eventual) US vote as the Republicans’ handling of the healthcare reform is a proxy for the outlook on fiscal easing, in our view”.

“If the bill cannot be passed, it would be another supportive factor for EUR/USD, which could indicate that we will see the cross rise sooner than penciled”.