EUR/USD has improved a bit, largely due to the improving investment environment. The economists of ING They analyze the pair's prospects.
PMI data and ECB minutes in the spotlight
The highlight of today's session will be the release of the European PMIs. A modest rebound is expected today, but Unless the Eurozone Composite PMI can reach the 50 level, we doubt EUR/USD will gain too much joy from the release.
Likewise, we doubt that the release of the European Central Bank (ECB) minutes will move the needle on the market's valuation of around 100 basis points on ECB rate cuts this year. As reference, our economists only expect 75 basis points of easing.
Currently, the EUR/USD is breaking above short-term resistance and looks like it wants to test the 1.0865/1.0900 zonebut the arguments in favor of higher levels have not yet been made concrete.
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.
