Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Aug 07 - 06:55 PM

ING: Outlook on EUR/USD for the Week

By eFXdata  —  Aug 07 - 03:00 PM

ING presents its outlook on the EUR/USD currency pair, drawing attention to the following key aspects:

  1. Impact of US Employment Figures: The softer headline for US employment provided some relief for EUR/USD during the past week.

  2. 100-Day Moving Average: The EUR/USD found some support around the 100-day Moving Average, which is currently just above the 1.0920 mark. As long as this level holds, trend followers may maintain their bullish stance on the EUR/USD.

  3. Near-Term Forecast: Given the expected mixed movements in the FX markets, ING anticipates that the EUR/USD will remain mostly range-bound around the 1.10 mark for the week.

  4. European Data and ECB Survey: On the European side, there are some second-tier data releases expected and the European Central Bank (ECB) consumer expectations survey due on Tuesday. These events, however, may not significantly influence the market's current pricing.

  5. Market Expectations: The market currently anticipates around 18 basis points of tightening by the ECB by the end of the year. The upcoming data and surveys are unlikely to have a substantial impact on this expectation.

Conclusion: ING's outlook for the EUR/USD this week suggests stability, with the currency pair likely hovering around the 1.10 mark. The 100-day moving average is seen as a crucial support level in the near term, and the week's data releases and surveys are not expected to cause significant shifts in market sentiment or pricing.

ING Research/Market Commentary


  • eFXplus
  • End-user license agreement (EULA)


  • About
  • Contact Us


  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved