EUR/USD: The 1.0695/1.0700 lows seen in mid-February are an obvious short-term target – ING

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2 April 2024

EUR/USD: The 1.0695/1.0700 lows seen in mid-February are an obvious short-term target – ING

EUR/USD is comfortably trading under 1.0800. Economists at ING analyze the pair’s outlook.

Can't argue with wider rate differentials

Two-year EUR:USD swap rate differentials are now at 145 bps in favour of the Dollar. These are the most supportive rate conditions for the dollar since December 2022.

The 1.0695/1.0700 lows seen in mid-February are now an obvious short-term target.

The US JOLTS data will have a big say in whether EUR/USD trades much below 1.0700 today, but equally a soft JOLTS figure could be worth a bounce back to 1.0770/1.0780.

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