EUR/USD reached a new high yesterday. ING economists believe that the pair could test the high reached last May at 1.0785.
High natural gas prices could hit the Euro again later in the year.
“For now, we would prefer to bet on further EUR/USD strength, if the risks of today’s events in the US allow it. This could lead EUR/USD to aim for last May’s high at 1.0785“.
“This week exists an external risk of 1.0950 in case the US December CPI on Thursday shows another weak reading“.
“Before we dust off the call to 1.15, we should note that a reopened China will compete for global LNG supplies. This means that high natural gas prices could affect the euro zone and the euro again at the end of the year.”
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.
