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    EUR/USD could see a moderate uptick this week – ING

    Source Fxstreet
    Feb 13, 2024 08:27

    EUR/USD was rejected around 1.0800 on Monday. Economists at ING analyze the pair’s outlook.

    Growth outlook not that relevant for the ECB

    We like the chances of a moderate uptick in the pair this week. 

    One risk to this view is the ZEW survey published in Germany today. Consensus is aligned for a modest rise in the expectations index and a small decline in the current situation index. The release has a history of moving the market, but there are fewer longer-term implications for ECB rate expectations. 

    Markets are broadly positioned for a soft patch of economic growth in the Eurozone, and especially in Germany, and we don’t think the ECB will change its narrative meaningfully should the outlook deteriorate a little.

     

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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