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Jun 28 - 02:55 PM

EUR: High Bar For A Hawkish Surprise From Sintra; EUR/USD Unlikely To See A Significant Break Higher - ING

By eFXdata  —  Jun 28 - 01:30 PM

ING Research discusses the EUR outlook and maintains a bearish bias on EUR/USD over Q3.

"A look at rate expectations embedded in the swaps market – 150bp of tightening fully in the price by year-end – suggests that the bar for a hawkish surprise is likely set quite high, and we doubt that Sintra will be the catalyst for a significant break higher in EUR/USD," ING notes. 

"Still, a softer dollar environment could help, and stabilisation in the 1.0600-1.0650 range is possible this week, even though we see a return to 1.0500 in the remainder of 3Q as more likely," ING adds.

Source:
ING Research/Market Commentary

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