EUR/USD pulled back after breaking above 1.0900. However, economists at ING expect the pair to test the 1.1000 level.

Focus will be on PMI readings in the Eurozone today

“Expectations are for a stabilisation in the survey around February’s numbers, and barring huge surprises, the releases may not have a major market impact given how macro fundamentals are playing second fiddle to financial market stress at the moment.”

“We think that 1.1000 can be tested quite soon as the Dollar bias should stay mostly bearish and European currencies are backed by hawkish central banks and a quieter banking environment.”