EUR/USD: THE 1.0695/1.0700 LOWS SEEN IN MID-FEBRUARY ARE AN OBVIOUS SHORT-TERM TARGET – ING
EUR/USD is comfortably trading under 1.0800. Economists at ING analyze the pair’s outlook.
Can't argue with wider rate differentials
Two-year EUR:USD swap rate differentials are now at 145 bps in favour of the Dollar. These are the most supportive rate conditions for the dollar since December 2022.
The 1.0695/1.0700 lows seen in mid-February are now an obvious short-term target.
The US JOLTS data will have a big say in whether EUR/USD trades much below 1.0700 today, but equally a soft JOLTS figure could be worth a bounce back to 1.0770/1.0780
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