- Analytics
- News and Tools
- Market News
- EUR: Remaining vulnerable – ING
EUR: Remaining vulnerable – ING
EUR/USD is showing no inclination to trade back above 1.10, ING’s FX analyst Chris Turner notes.
Threat of higher oil prices is a large euro negative
“Normally we would argue that the prospect of fresh Chinese fiscal stimulus would be a euro positive – given the eurozone's relatively large share of exports to GDP. However, the Middle East situation and the threat of higher oil prices is a large euro negative and one which will hold the euro back this month.”
“We are disappointed that the EUR/USD rally stalled at 1.12 this Autumn and instead, 1.08 seems far more probable than a retest of 1.12. We continue to flat-line our multi-quarter EUR/USD forecasts at 1.10 until the outcome of November's US presidential election is known.”
“There is very little on the eurozone calendar today and while EUR/USD may press 1.10 on the back of this morning's news out of China – the Ministry of Finance will brief on fiscal policy this Saturday – we suspect sellers to emerge there.”
© 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
