EUR/USD is down to 1.0800. The economists of ING They analyze the pair's prospects.
Weak January CPI will keep pressure on the ECB
The highlight of today's Eurozone data calendar is the January CPI release, where the headline rate is expected to fall to 2.7% year-on-year and the underlying rate to 3.2% year-on-year, the latter the lowest since March 2022.
Given the trend towards disinflation and weak activity data, it is more difficult for the European Central Bank than for the Fed to curb expectations of early easing. For this reason, markets continue to give a 60% chance of a rate cut in April by the ECB.
EUR/USD support is currently under pressure at 1.0790/1.0800 and a break would open the 1.0715/1.0725 zone.
Source: Fx Street
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