EUR/USD is enjoying a respite. ING economists analyze the pair’s prospects.
EUR/USD could rise to the 1.0650/1.0675 area
Eurozone data has been nothing but negative for the Euro this week (weak growth and confidence, weaker inflation), but the calmer Dollar environment warns that EUR/USD could rise again.
Between 1.0520 and 1.0700 appears to be the new short-term range, and EUR/USD could rise towards the 1.0650/1.0675 area, perhaps with US jobless claims as a possible trigger for the move.
The data calendar is scarce, but we will have to pay attention to the speech by the chief economist of the European Central Bank, Philip Lane. We assume he will leave the door open to a further rate hike in December, even though money markets have already completely ruled out any ECB tightening.
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.
