EUR/USD could see a moderate uptick this week – ING
Source Fxstreet
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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WTI declines below $82.50 as oil inventories rise far more than expectedWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 during the early Asian trading hours on Thursday. WTI declines on a larger-than-expected build in US crude oil inventories. Traders will closely monitor the developments surrounding US-Iran talks for fresh impetus.
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Here is what you need to know on Thursday, August 13:
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