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Dec 13 - 12:55 AM

EUR/USD: To Struggle To Hold Any Gains Over 1.06 This Week - ING

By eFXdata  —  Dec 12 - 04:30 PM

ING Research sees a limited scope for further EUR/USD gains this week. 

"This week sees central bank meetings in the eurozone, Switzerland and Norway, where 50bp hikes are expected in the former two and a 25bp hike in the latter. Please see our full European Central Bank preview here and our Swiss National Bank preview here. On the former, we note there is still a slight risk of the ECB doing 75bp rather than 50bp - which would probably help the euro. But this of course comes after the US CPI/FOMC risk," ING notes. 

"Given the 10% EUR/USD correction off the late September lows, our preference would be that EUR/USD struggles to hold any gains over 1.06 this week and could end the week lower should US events oblige," ING adds.

Source:
ING Research/Market Commentary

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