EUR/USD: the Fed and ECB will likely not dramatically impact the forex this week (Danske Bank)

Danske Bank believes that this week's monetary policy meetings at the Fed and ECB should not have much of an impact on the EUR/USD on the forex.

"The EUR/USD posted a slight rebound following Friday's NFP report, which was somewhat weak.

We don't think that the Fed will do much to provoke a USD move with its rate hike on Wednesday, even though the reaction should be slightly bearish for the EUR/USD if the rate projections remain unchanged. Moreover, an unchanged ECB tone on Thursday but upward revisions in inflation/growth should keep the EUR/USD stable and in the 1.16-1.20 range, which should hold through the end of the year."