EUR: September CPI to keep ECB expectations anchored – ING
|A speech by ECB President Christine Lagarde was read as mildly dovish yesterday, in that the ECB being in a 'good place' did not prevent it from adjusting interest rates, ING's FX analyst Chris Turner notes.
Market has not completely ruled out one further ECB cut
"Recent German activity data have come in on the soft side and the market has not completely ruled out one further ECB cut. With that in mind, we doubt the market will want to drive EUR/USD too much higher on what should be a rise in September eurozone inflation to 2.2% year-on-year today, while core is expected to remain at 2.3%."
"However, we think the US government shutdown and the softer dollar story should dominate today and could be enough to drag EUR/USD to 1.1800/1820."
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.