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Nov 15 - 02:55 PM

EUR/USD: On A Slippery Slope To 1.13 By End Of November - ING

By eFXdata  —  Nov 15 - 01:30 PM

ING Research sees a scope for EUR/USD to decline towards 1.13 by end of November.

"Last week saw EUR/USD break below 1.1500, and we think there is now room for the pair to decline to the 1.1300 level by the end of November. The eurozone data calendar is quite dull this week, and the focus will mostly be on ECB President Lagarde’s remarks," ING notes.

"Today, Lagarde will meet with the EU ECON committee in a very inflation-centred debate, and she is also set to participate in other events later in the week – expect remarks by Lane, Schnabel and Weidmann as well. We do not expect to hear any change in her cautious view on inflation and her policyrelated comments should still be aimed at pushing back against any speculation of a 2022 rate hike. This should allow markets to retain a broadly bearish bias on the euro this week, in our view," ING adds. 

Source:
ING Research/Market Commentary

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