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.
Recommended Articles
U.S. stocks moved unevenly after the Fed's rate cut, with Dow rising but S&P 500 and Nasdaq slipping.
The US Dollar Index (DXY) has lost its daily gains and is trading around 97.00 during the European hours on Thursday.
The AUD/USD pair claws back some of its early losses and rebounds to near 0.6650 during the European trading session on Thursday.
Sources say China is planning to terminate its antitrust investigation into Google, shifting regulatory focus squarely onto chip giant Nvidia.
Meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are regaining momentum, driven by increased capital inflows in the derivatives markets.
Related Instrument
