fxs_header_sponsor_anchor

News

EUR: Trying to recover a tough week – ING

EUR/USD is licking its wounds after a tough week, ING’s Chris Turner notes.

EUR/USD to stay relatively offered in a 1.08-1.09 range

“Two key drivers have been: a) the market's repricing of a potential Trump victory presaging a potentially tariff-inflicted period for world trade, and b) European Central Bank President Christine Lagarde throwing more fuel on the dovish bonfire with her press conference last Thursday.”

“With two-year EUR:USD swap differentials now very wide at 141bp and weighing on EUR/USD, there will be much focus on the ECB speakers in Washington this week. Here, we'd pick out Lagrade speaking to Bloomberg TV tomorrow and Chief Economist Philip Lane speaking on Wednesday.” 

“Thursday's release of PMIs across the Eurozone region will also be crucial to EUR/USD this week. Lagarde surprised some last Thursday by elevating the importance of the PMIs in ECB decision-making. Unless there is a miraculous recovery in these (which seems unlikely), EUR/USD should stay relatively offered in a 1.08-1.09 range.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.