EUR/USD: 1.0800 looks to be the near-term bias – ING

Market news

17 January 2024

EUR/USD: 1.0800 looks to be the near-term bias – ING

In a busy week for European Central Bank speakers, today sees ECB President Christine Lagarde speak twice. Economists at ING analyze EUR/USD outlook ahead of the speeches.

Let's see what Lagarde has to say

A whole host of ECB speakers have pushed back against the market's pricing of 15 0bps of rate cuts this year – but market pricing has proved quite stubborn. Let's see whether President Lagarde can move the needle when she speaks today.

EUR/USD is working its way lower on the higher US rate/softer risk environment.

1.0800 looks to be the near-term bias for EUR/USD and we are pleased that, despite the geopolitical environment, EUR/CHF is moving higher in line with a thesis of higher Euro rates being the dominant factor here.

Eurozone Core Harmonized Index of Consumer Prices (YoY) in line with forecasts (3.4%) in December

United Kingdom DCLG House Price Index (YoY) came in at -2.1%, below expectations (-1.9%) in November

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