EUR/USD: Remaining range bound – ING

Analysts at ING see the EUR/USD pair with a neutral bias for next week and expect it to trade between 1.0980 and 1.1100. Their one-month target is 1.1000.

Key Quotes: 

“Despite a fairly busy week on the US and EZ data fronts, the impact on EUR/USD should be limited, with the cross remaining range bound. In the US, the FOMC meeting (Wed) is unlikely to deliver a major surprise, with the central bank on hold after delivering three cuts so far this year. Chair Powell should re-emphasise the data-dependent approach of the committee. With Nov US CPI inflation to print 2%YoY (Wed) and Nov retail sales (Fri) rising, the case for no urgent rate cuts should remain in place. Also, today’s labour market data further supported the notion of stability in interest rates for now.”

“In the EZ, new ECB President Lagarde is hosting her first press conference. No material change is expected with QE just being reintroduced this quarter. New ECB staff projections will be published with both CPI and growth projections for 2020 lowered (and 2022 projections newly revealed). We also don’t expect any clarity about Lagarde’s preference on the ECB strategic review. We expect a modest improvement in the Dec German ZEW Index.”

“A possible Conservative party victory in the UK election and the associated sterling strength may push EUR/USD modestly higher via the GBP/USD flow channel.”

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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD trades at fresh September lows

Risk-aversion is the main theme this Monday, amid resurgent coronavirus cases in the Old Continent and the announcement of  new lockdowns. ECB’s Lagarde said the economic recovery in the EU is “very uncertain, uneven and incomplete.”


GBP/USD extends slump sub-1.2800

The Pound plunged on a dismal market mood, as PM Johnson acknowledged the kingdom is undergoing a second coronavirus wave. GBP/USD trades at one-week lows around 1.2800.


XAU/USD dives to sub-$1900 levels, six-week lows

Gold extended last week's rejection slide from a short-term descending trend-line resistance and tumbled to six-week lows during the early North American session.

Gold News

Bitcoin gets back in the game

Bitcoin is on its third positive consecutive session in a row on the dominance chart and points to strong market share increases. Crypto market raises doubts on price development in the short term.

Read more

WTI plummets to $39, down more than 4%

Crude oil prices closed the previous week sharply higher but erased a large portion of those gains on Monday. As of writing, the barrel of West Texas Intermediate was down 4.2%, the biggest daily percentage decline in nearly two weeks, at $39.15.

Oil News