- Analytics
- News and Tools
- Market News
- EUR/USD to stabilise around 1.0900 – ING
EUR/USD to stabilise around 1.0900 – ING
Eurozone growth pessimism may have peaked. However, economists at ING do not expect EUR/USD to enjoy further gains for the time being.
Rate differentials still point to a weaker EUR/USD
Thursday's PMIs suggested the worst in the Eurozone's economic sentiment may be past us. The composite gauge rebounded more than expected despite both manufacturing and services indicators remaining in contractionary territory.
The notion that recessionary pessimism may have peaked in the Eurozone is a positive for EUR/USD, but whether this can offer support to the pair already in the near term is a different question.
Despite having modestly tightened, the 2-year EUR-USD swap rate differential is at -155 bps. The last time it was trading around these levels, EUR/USD was in the 1.03/1.04 area. We keep favouring a stabilisation around 1.0900 for now.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
