EUR/USD can be dragged back towards the 1.0920 area – ING

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31 July 2023

EUR/USD can be dragged back towards the 1.0920 area – ING

Economists at ING analyze EUR/USD outlook.

US disinflation is not enough to get the Dollar lower

We are a little disappointed that EUR/USD did not hold gains on Friday's soft US Employment Cost Index reading. That may suggest US disinflation is not enough to get the Dollar lower.

Unless we see some downside surprises to the US activity data this week it looks as though EUR/USD can be dragged back towards the 1.0920 area.

See: EUR/USD needs to hold support at 1.0905/1.0833 to suggest weakness is corrective – Credit Suisse

Turkey Foreign Arrivals down to 11.35% in June from previous 16.2%

United Kingdom M4 Money Supply (YoY) rose from previous 0% to 0.1% in June

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