The budget proposal of 2 billion euros of the EU Commission has continued to face harsh criticism from Germany, says the FX analyst of ING, Francesco Pesole.
The EUR will move to 1,150 in the short term
“Chancellor Friedrich Merz admitted that it will be a ‘hard fight for the budget for the next two years.’
“That was, anyway, a long -term issue for the euro, which for now follows the evolution of the US neutral pivot. “
“That is another factor that keeps us moderately bearish in the EUR/USD, and we continue to favor a movement towards 1,150 in the short term.”
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.
