EUR/USD is consolidating under 1.10. For today, we will get to see the release of the European Central Bank (ECB) minutes for March. Economists at ING expect the world’s most popular currency pair to have a quiet day around the 1.0900/1.0950 region.

Look out for ECB minutes today

“ECB minutes are typically less exciting than the Fed's. Look out for any mention of the euro. The ECB has recently been expressing a little concern with EUR/USD under 1.10 and what it means for imported energy prices. Yet unless the ECB is prepared to hike more aggressively, any EUR/USD rally on ECB FX-linked comments looks unlikely to last.”

“EUR/USD may have a quiet day near 1.0900/1.0950, though our multi-day bias is lower and our multi-month bias for a 1.05-1.10 trading range.”