Home Forex EUR/USD to extend recovery to 1.0400/1.0450 in coming days – ING

EUR/USD to extend recovery to 1.0400/1.0450 in coming days – ING

by SuperiorInvest

Risk rally sent EUR/USD back above 1.0300. ING economists expect the pair to reach 1.0400/50 in the coming days.

Dollar function only

“Some improvement in China-related sentiment is a positive development for eurozone assets and the euro, but swings in the pair remain primarily a function of broader dollar movements.”

“The Fed minutes is the most important event for EUR/USD today, along with other changes in market sentiment towards China.”

“An extension of the rally to 1.0400/1.0450 is certainly possible in the coming days, but a return to parity over the next few weeks remains our bottom line as we enter a challenging winter for eurozone economy.”

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