outlook for EUR/USD 11/19

The euro is likely to strengthen against the dollar if the eurozone economy rebounds faster than the U.S., J.P. Morgan says. The outlook for EUR/USD depends on the "growth differential between the U.S. and Europe along with more clarity on fiscal spending and on the political front," Thushka Maharaj, strategist at J.P. Morgan, says. Increased spending by euro-area governments that "supports long-term economic growth" of the eurozone would be positive for the euro, she says. For now the euro "remains range-bound" around $1.10 due to "opposing forces" such as the Federal Reserve cutting rates, which means less support for dollar, counteracted by weak growth outside of the U.S. hurting demand for the safe-haven currency. EUR/USD falls 0.1% to 1.1066.