ING Analyst: Euro Rebound Above 1.14 May Fade on Energy Risks
ING’s Francesco Pesole cautions that EUR/USD’s bounce above 1.140 on lower oil prices looks too optimistic without a geopolitical de-escalation.
EURUSD
The euro recovered above the 1.1400 level against the US dollar, buoyed by a retreat in oil prices. However, ING analyst Francesco Pesole argues that the move lacks conviction.
Pesole notes that energy supply risks remain a headwind for the euro, and the currency’s gains could quickly reverse if geopolitical tensions do not ease. Without a clear de-escalation, the optimism in the pair appears premature.
Markets will watch for any developments on the geopolitical front for further direction.
Source: FXStreet Forex News