EUR/USD: 1.0965-1.1065 COULD WELL BE THE HOLDING PATTERN INTO THURSDAY'S US PCE INFLATION DATA – ING
EUR/USD has briefly breached the 1.10 mark. Economists at ING analyze the pair’s outlook.
EUR/USD has good intra-day support at the 1.0965 area
For today, the focus will be on German CPI – expected to slow to 3.5% from 3.8% year-on-year and presage a softer Eurozone inflation release on Thursday.
EUR/USD has nudged above 1.10 and now has good intra-day support at the 1.0965 area. Unless we see massive upside revisions to 3Q23 US GDP data today, we doubt EUR/USD needs to come a lot lower.
And 1.0965-1.1065 could well be the holding pattern into Thursday's US PCE inflation data.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.