EUR: Chance of retesting 1.1100 – ING
23.08.2024, 11:15

EUR: Chance of retesting 1.1100 – ING

French CPI surprised yesterday, but the global investor community quickly agreed this was down to a short-term boost to services from the Olympic games, which translated into a likely spurious boost in the eurozone-wide surveys. The news from Germany was instead quite grim, as both manufacturing and services slowed more than expected and the composite index fell further into contraction to 48.5, ING’s FX strategist Francesco Pesole notes.

EUR/USD to break below 1.1100 short term

“We have repeatedly highlighted how that does not matter hugely for the euro as long as inflation and wages prevent large cuts from the ECB. The Bank’s own measure of negotiated wages slowed from 4.7% to 3.6% in 2Q, but swap rates and the euro did not really react to the release as German wage data released earlier this week painted a much more worrying picture, and there is a strong suspicion the decline in eurozone negotiated wages might be due to one-off factors.”

“Incidentally, the PMI report showed German output charge inflation was the highest since February. Markets remain comfortable with pricing slightly less than one cut per ECB meeting by year-end (69bp in total), and things may not change until the next batch of key data releases move the needle again.”

“EUR/USD has room to climb in the coming weeks, but investors may use an unexciting Powell speech today to lock in some profit and have the pair re-test the robustness of the 1.1100 support. The ECB CPI expectations report this morning is expected to show a marginal decline from 2.8% to 2.8% in the one-year gauge, and may not move the market significantly.”

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

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.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik