EUR: Heading into a non-event ECB – ING
|EUR/USD is hovering around 1.160, a level that, in our view, can work as an anchor again today and possibly for a few more days should US CPI fail to add much to the US Dollar (USD) narrative, ING's FX analyst Francesco Pesole notes.
Next week’s ECB meeting might incidentally be a non-event
"The eurozone calendar only includes consumer confidence data (not market-moving) today, and tomorrow’s PMIs may also have limited spillover into FX. Next week’s ECB meeting will incidentally be a non-event in our view."
"In the rest of Europe, Scandinavian currencies are performing quite well this week, mostly thanks to their high beta to the recovery in risk sentiment. Incidentally, both Sweden and Norway present a combination of decent growth prospects and low debt that favours rotation into their (undervalued) currencies in periods of market calm."
"We remain generally constructive on SEK and NOK, even if the short-term picture is more mixed than the medium-term one."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.