EUR/USD: the euro should remain robust in 2018 (CIBC)

CIBC believes that the euro will likely continue to find support thanks to the good economic performance of the euro zone.

"The PMI indices suggest that growth has continued to strengthen in the most advanced economies at the end of 2017. However, one area is particularly healthy: the euro zone. Its PMI manufacturing indexes are not only close to historical highs but they also drive the composite indices.

So even though we expect the dollar to be a little stronger in 2018 than we had previously considered, because of the tax reform, the euro should remain strong and even appreciate against the British pound", says CIBC.