EUR/USD to test test the 0.9540 September lows in the near-term – ING
|EUR/USD is trading around the 0.9750 area. Economists at ING expect the world’s most popular currency pair to challenge the the 0.9540 September lows in the short-term.
Gas price corridor on the way?
“The euro should remain heavily impacted by sterling’s swings in the near term, and here the correlation appears to be stronger on the downside: i.e. the spillover from another sell-off in gilts would likely have an asymmetrically larger impact on the euro than the positive implications of a recovery in UK sentiment.”
“The proposal of a price corridor for wholesale gas transactions was set to be explored: this may be a bridge between the requests for capping gas prices and the concerns that a fully-fledged cap would lead to increased consumption. The content of the coordinated measures could have a more long-lasting impact on the euro than the ECB’s policy direction, at this stage.”
“We still think that EUR/USD will test the 0.9540 September lows in the near-term, and extend a drop below that level by year-end.”
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.