- EUR/USD: US CPI may not be enough to trigger a sustained break of the 1.1040 area – ING
Market news
10 August 2023
EUR/USD: US CPI may not be enough to trigger a sustained break of the 1.1040 area – ING
Economists at ING analyze EUR/USD outlook ahead of the release of the US July CPI.
Short-term range clearly defined between 1.0925 and 1.1040
EUR/USD today will largely be determined by the US July CPI release.
The short-term range is now clearly defined between 1.0925 (the 100-Day Moving Average) and the recent high at 1.1040.
Our thesis is that today's consensus CPI number may not be enough to trigger a sustained break of the 1.1040 area.
See – US CPI Preview: Forecasts from 10 major banks, monthly pace should hold at 0.2%
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