EUR: ZEW might underwhelm – ING

Source Fxstreet

EUR/USD price action is so far endorsing our call that markets are not ready to take the pair much above 1.160 just yet. The upside risks aren’t small though, for instance, if markets are disappointed with the trade headlines from Canada and oil prices correct lower due to perceived abatement in the Middle East turmoil, ING's FX analyst Francesco Pesole notes.

Euro’s contribution to EUR/USD moves remains minimal

"Yesterday, ECB Governing Council member Joachim Nagel briefly mentioned the oil rally as a potential risk to price stability, and otherwise reiterated President Christine Lagarde’s narrative that the ECB is in a good position with rates. But it is indeed oil prices that are likely to have the biggest impact on rate expectations at the moment. Unless Brent corrects further, markets may not really consider bringing the next cut forward to October."

"The euro’s contribution to EUR/USD moves remains minimal, but today’s release of the ZEW survey in Germany can have some market impact. The 'expectations' gauge is seen rebounding further to 35.0, but concerns about the EU-US trade standoff (albeit currently not the primary theme) could cap the upside."

"We favour 1.15 rather than 1.16 as a near-term target and have a bearish bias on EUR/USD today. But the quite evident market preference to buy the dips in the pair means risks are still generally skewed to the upside."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Silver Price Forecast: XAG/USD has a strong support at $40.50Silver (XAG/USD) has reversed losses after bouncing at $40.50 earlier on Monday, with price action returning to levels right above $41.00.
Author  FXStreet
Yesterday 08: 22
Silver (XAG/USD) has reversed losses after bouncing at $40.50 earlier on Monday, with price action returning to levels right above $41.00.
placeholder
US Dollar Index Price Forecast: 100-day SMA remains a key barrierThe US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.15% lower around 97.60 during the European trading session on Monday.
Author  FXStreet
Yesterday 09: 20
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.15% lower around 97.60 during the European trading session on Monday.
placeholder
3 Red Flags for XRP in September That Could Derail a 2025 Price RallyDespite many positive predictions for XRP’s price in 2025, several on-chain data points reveal a different picture.
Author  Beincrypto
Yesterday 09: 27
Despite many positive predictions for XRP’s price in 2025, several on-chain data points reveal a different picture.
placeholder
Ethereum Price Forecast: BitMine's ETH stash surpasses $9 billion amid ETF outflow pressureEthereum (ETH) trades around $4,300 on Monday following mixed sentiment from corporate treasuries and investors in ETH exchange-traded funds (ETFs).
Author  FXStreet
14 hours ago
Ethereum (ETH) trades around $4,300 on Monday following mixed sentiment from corporate treasuries and investors in ETH exchange-traded funds (ETFs).
placeholder
U.S. August CPI Preview: Persistent Rise in Inflation, What Impact on Rate Cuts? And on US Stocks?On Thursday, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI.
Author  TradingKey
7 hours ago
On Thursday, the U.S. will publish August CPI data. Consensus forecasts indicate a 0.3% month-over-month increase for both headline CPI and core CPI.
Related Instrument
goTop
quote