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Sep 06 - 06:55 PM

EUR/USD: To Remain Bid Through The Early Part Of The Week - ING

By eFXdata  —  Sep 06 - 03:00 PM

ING Research discusses EUR/USD outlook this week.

"Expect EUR/USD to remain bid through the early part of the week as the market adjusts positions ahead of Thursday's ECB meeting. While our team ultimately expect the ECB to avoid tapering, a speculative market short EUR may choose to rein in some positions ahead of Thursday's event risk. German elections also add another layer of intrigue to the EUR/USD story," ING notes. 

"As we've noted recently the FX options market has only added a 30-40% expected increase in normal daily volatility to the German election risk, but this could build. 1.1850-1.1910 could be the narrow EUR/USD range in a quiet start to the week," ING adds. 

Source:
ING Research/Market Commentary

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