EUR/USD eyes next support at 1.0800 – ING

Market news

23 August 2023

EUR/USD eyes next support at 1.0800 – ING

EUR/USD came under pressure on Tuesday. Economists at ING analyze the pair’s outlook.

Markets may marginally prefer to stay bearish on EUR/USD

Unless we receive some encouraging news from PMIs, or a drop in the Dollar (e.g., caused by an equity rally after Nvidia results), we suspect markets may marginally prefer to stay bearish on the pair as for some pre-Jackson Hole positioning.

EUR/USD is testing the early-July 1.0834 low this morning, a break lower puts the next support at 1.0800 (200-Day Moving Average).

FX option expiries for Aug 23 NY cut

Germany HCOB Manufacturing PMI above expectations (38.7) in August: Actual (39.1)

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