The EUR/USD is back to operate near the 1.120 brand, fully driven by oscillations in the dollar after the agreement between the US and China and the NPC numbers, says the FX analyst of ING, Francesco Pesole.
EUR/USD will stabilize around 1,120 in the next few days
“Our target one month for the torque is 1.12, with the opinion that the markets will maintain interest in short positions in USD before the expected deterioration of US data, but that the euro is not particularly well positioned to benefit from it, since the ECB continues to cut, and markets can look more interesting at the highest beta coins due to a better feeling of risk.”
“In Macro News of the Eurozone, the ZEW expectations survey rebounded in May, showing greater hope for US trade agreements, although the indicator of the current situation showed no recovery.”
“We expect some stabilization around 1,120 in the EUR/USD in the next few days.”
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.
