As we had anticipated, the EUR/USD looked a bit too expensive about 1,145, and the rebound below 1,140 is probably due to a Squeeze of short positions, says the FX analyst of ING Francesco Pesole.
EUR/USD can stabilize about 1.13 over the next weeks
“Some potentially positive news about commercial tensions between the US and China this week argue against a rapid return to early Tuesday (1,1420+). That is, unless there are some materially weak US data today.”
“The inflation figures of the Eurozone of yesterday, by the way, increased the possibility of a more moderate message by the ECB. Apart from the figure below the 2.0% target in general inflation, the underlying inflation was slowedly slowed, from 2.7% to 2.3%.”
“The general message of the ECB should be moderate, but that more references to the overall potential of the euro can compensate the negatives for the EUR/USD. US commercial negotiators at 1,150. “
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.
