The level of 1.20 is within reach of the EUR/USD, but it is mainly American factors who have the key to the next movement, says the FX analyst of ING, Francesco Pesole.
The upward risks for the EUR/USD are still high
“Our base scenario is really that the EUR/USD stabilizes just below the current levels (around 1.15-1.16) since the dovish bets of the markets are wrong, but we grant that the risks upward for the pair remain high before the data supports our opinion.”
“It is likely that the markets wait until the German numbers on Monday will be published to draw conclusions about the European Central Bank. Speaking of the ECB, today we will listen to three pigeons of the Governing Council: François Villerooy, Olli Rehn and Piero Cipollone. Let’s see if the fall in oil prices unleashes some resistance against the hard line review in the EUR curve.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
