EUR/USD continues to consolidate at lower levels. Wednesday’s focus will be tonight's TV debate between Macron and Le Pen. The pair is unlikely to stage a significant move higher even if Macron ‘wins’ the debate, economists at ING report.

Polls currently show quite a strong lead for Macron

“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.” 

“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.”