Economists at ING provide insights into the anticipated trajectory of the EUR/USD pair as it hovers just below the 1.0900 mark. The upcoming week is poised to be influenced primarily by US events, with certain Eurozone indicators also warranting attention.
Final February Consumer Price Index (CPI) figures, scheduled for release today, are not expected to yield significant surprises. However, Tuesday’s ZEW survey holds potential interest as it offers a glimpse into the state of the German economy, which has been facing challenges. Additionally, Thursday’s Purchasing Managers’ Index (PMI) data could serve as a pivotal factor for EUR/USD movement into the weekend, especially following the digestion of the Federal Open Market Committee (FOMC) decisions.
Amidst this economic landscape, the European Central Bank (ECB) is set to have a notable presence, with a lineup of speakers including President Christine Lagarde scheduled for Wednesday.
In light of these developments, ING’s perspective on EUR/USD suggests a propensity for softness leading up to the FOMC meeting, yet the pair is anticipated to remain within the range of 1.0850 to 1.0900 by week’s end.
