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- EUR/USD to hold around 1.11 today, but sizeable downside risks in coming weeks – ING
EUR/USD to hold around 1.11 today, but sizeable downside risks in coming weeks – ING
EUR/USD rallied by more than 1% on Tuesday. In the view of economists at ING, German CPI is set to help euro hold on to gains.
Rate differentials and other fundamentals point to a weakening in the pair
“Geopolitical risk now appears almost fully priced out, while rate differentials and other fundamentals point to a weakening in the pair.”
“The euro might get some support today from the March inflation readings in Germany and France. German inflation looks set to have broken above 6.0%, once again driven by higher energy prices, which should keep alive the market’s expectations on ECB tightening in 2022.”
“We think EUR/USD can hold around 1.11 today, but we continue to see sizeable downside risks in the coming weeks.”
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