The EUR/USD pair continues to rise towards 1.0600. But in the view of ING economists, a recovery above 1.06 would be premature.
Rate expectations are unlikely to change much in the coming days
“Markets are pricing in around 55 basis points of tightening ahead of next week’s ECB meeting, and with no more speakers ahead of the rate release and no key data releases other than Tuesday’s ZEW surveys, we doubt that expectations about interest rates move a lot in the coming days.”
“Our base case remains that EUR/USD will struggle to sustainably trade above 1.0600, and faces mainly downside risks at the end of the yearas the dollar could recover some ground on uncertainty about global risk and the rebound in energy prices.”
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.
