The EURUSD continues to fall in calm markets. ING economists believe that can reach 1.02.
PMIs in the spotlight this week
“In addition to the ongoing wall of speakers from the European Central Bank, the November flash PMIs for the Eurozone, Germany and France will be released this week. The composite PMIs are expected to be in contractionary territory for all three and be a reminder of that, at some point, the ECB will probably end its tightening cycle.”
“Our view is that the ECB rises 50 basis points on December 15 (59 basis points in the markets) and then ends the cycle with a rise of 25 basis points in February.. In other words, we expect the cycle to end at 2.25%, instead of the 2.90% area that markets are pricing in at the end of the summer.”
“In the short term, the EURUSD has just plunged below the 1.0270 support and we would not rule out a drift towards the 1.0200 area in the short term.”
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.
