EUR/USD clings to small recovery gains ahead of the US Consumer Price Index (CPI) report. Economists at ING analyze the pair’s outlook.
EUR/USD should be moved entirely by the USD reaction to US CPI figures
There are no scheduled ECB speakers today, and EUR/USD should be moved entirely by the USD reaction to US CPI figures.
The common currency has held up well since the start of the week despite the Dollar recovering some ground in G10, but we still see a return below 1.0900 as more likely than a rally to 1.1000+.
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