Softer CPI May Push EUR/USD to 1.1600, ING Says
ING’s Francesco Pesole says that with Eurozone data done and ECB quiet, the EUR/USD outlook now hinges on US developments, and softer CPI could propel the pair toward 1.1600.
EURUSD
ING analyst Francesco Pesole notes that key Eurozone data releases are now in the rearview mirror and communication from the European Central Bank has been subdued. As a result, EUR/USD direction is being driven chiefly by events in the United States.
In that environment, a softer US consumer price index print could weaken the dollar and unlock further upside for the euro, potentially sending the pair toward the 1.1600 level. The call highlights the current asymmetry in market attention away from euro-zone-specific catalysts.
Source: FXStreet Forex News