EUR/USD correction may only extend to the 1.1050 area – ING

Market news

24 July 2023

EUR/USD correction may only extend to the 1.1050 area – ING

Economists at ING analyze EUR/USD outlook ahead of big central bank meetings.

Some downside risks to EUR/USD this week

Given what could be a mildly hawkish Fed event risk on Wednesday and the prospect of the ECB less than wholeheartedly backing the idea of a follow-up September rate hike, we see some downside risks to EUR/USD this week.

As a result, we think this EUR/USD correction may only extend to the 1.1050 area.

See – EUR/USD: General election in Spain have had limited impact on the Euro – MUFG

Gold price stabilizes as Fed likely to resume interest-rate hiking cycle in July

German Preliminary Manufacturing PMI contracts further to 38.8 in July vs. 41.0 expected

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