Advertisements

EUR/USD can find some support in the short term near the 1.0700 area – ING

by Elena

Economists at ING analyze EUR/USD and EUR/JPY outlook ahead of Thursday’s European Central Bank meeting

Thursday’s ECB could see EUR/JPY briefly trade back up to the 158.50 area

We see Thursday’s ECB event risk being a temporary positive one for EUR/USD. For that reason, we suspect that EUR/USD can find some support in the short term near the 1.0700 area – even if Oil prices do push higher.

Advertisements

Elsewhere, we have recently favoured a move lower in EUR/JPY based on positioning. Thursday’s ECB could see EUR/JPY briefly trade back up to the 158.50 area, but some excitement over a possible change in Bank of Japan interest rate policy later this year suggests the 150 and 160 levels on USD/JPY and EUR/JPY prove toppish.

Advertisements
Advertisements

You may also like

blank

MydayFinance (www.mydayfinance.com) is a comprehensive foreign exchange industry website, providing global users with 24-hour comprehensive and timely foreign exchange market information, foreign exchange rate real-time query, foreign exchange rate conversion and other content.【Contact us: [email protected]

© 2024 Copyright  mydayfinance.com