FX

EUR/USD to extend its rally to 1.0400/1.0450 in the coming days – ING

The risk rally sends EUR/USD back above 1.0300. Economists at ING expect the pair to continue rising and reach 1.0400/50 in the coming days.

Only a US Dollar function

“Some improvement in China-related sentiment is a positive development for eurozone assets and the Euro, but swings in the pair remain primarily a function of broader Dollar moves.”

“The Fed minutes are the most important event for EUR/USD today, along with further changes in the market’s sentiment on China.”

“An extension of the rally to 1.0400/1.0450 is surely possible in the coming days, but a return to parity in the next few weeks remains our base case as we enter a challenging winter for the eurozone economy.”

Articles You May Like

Hong Kong working on investor protection regulations, says central bank exec
Oil mixed as OPEC+ meeting, EU Russian oil ban loom
Dollar retraces its rise. GBPUSD trades to a new session high
GBPUSD tests upside target and finds some risk focused sellers on the test
ICYMI: China’s Xi said COVID in China mainly Omicron, was less lethal, allows more openess

Leave a Reply

Your email address will not be published. Required fields are marked *