ING Research discusses the EUR outlook around tonight's French Presidential election TV debate Wednesday, ahead of the second-round vote Sunday.
"EUR/USD continues to consolidate at lower levels, weighed down by both a strong dollar and signs that the European Central Bank is in no hurry to normalise policy. The focus today in Europe will be on tonight's TV debate (21CET) between Emmanuel Macron and Marine Le Pen. Polls currently show quite a strong lead (56% vs 44%) for Macron, while Le Pen will be hoping to improve on her poor TV debate performance back in 2017," ING notes.
"We doubt EUR/USD will rally too far were Macron to 'win' the TV debate, but avoiding any slip-ups could see EUR/USD continue to hold above the 1.08 level despite a broadly stronger dollar," ING adds.