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22 Jan 2024
EUR/USD set to trade out something like a 1.0850-1.0960 range near term – ING
The Euro has plenty to sink its teeth into this week. Economists at ING analyze the shared currency’s outlook.
Lots of input this week
Beyond Thursday's European Central Bank (ECB) meeting, Tuesday sees the latest ECB bank lending survey and Wednesday sees the flash PMIs for January. These two data sets weighed quite heavily on the Euro last autumn/winter and will be closely watched ahead of the ECB policy meeting.
Our baseline view sees EUR/USD hanging around these 1.0900 levels as the ECB tries to re-position for a data-dependent approach for future policy.
EUR/USD itself looks set to trade out something like a 1.0850-1.0960 range near term.