EUR/USD has fully recovered last week's losses following the US January CPI release, which exceeded expectations. The economists of ING They analyze the pair's prospects.
Wage data and PMIs in focus this week
In the Eurozone we are very interested in i) the ECB's survey on Tuesday on negotiated wage rates, and ii) the publication on Thursday of the preliminary PMIs for February.
A week of EUR/USD implied volatility of 5% suggests investors think the pair is going nowhere fast. That's a sign to avoid chasing breakups.
Our baseline would assume EUR/USD ranges 1.0700-1.0800/1.0810 this week. However, we must pay attention to the Eurozone data to detect possible upward movements.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
