Our previous considerations about a somewhat faded optimism with respect to rapid fire in Ukraine have probably contributed to a softer impulse of the EUR, says the ING currency analyst, Francesco Pesole.
EUR/USD will exceed 1,090 for Wednesday
“EUR/USD is still around 1% above our estimate for just in the short term, since a difference in the two -year swap rate around -150pb is more consistent with 1.07 than with 1.09, and our perspective at one month above the PAR is still bassist. However, this week it is quite loaded with data and the euro could obtain some additional benefit of fiscal optimism.”
“We have some speakers from the European Central Bank to pay attention to this week, but we doubt that some new orientation arises before we have more clarity about the impact of US tariffs.”
“Our forecast for this week is a return above 1,090 in EUR/USD for Wednesday, followed by a certain weakness towards the end of the week as the markets look beyond the data and build more defensive positions before the tariff event of April 2. We continue to doubt that there is sufficient uphill to take the torque above 1.10.”
Source: Fx Street
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