EUR/USD is likely to move sideways for lack of impetus – Commerzbank

EUR/USD is hovering around the 1.07 mark. Economists at Commerzbank analyze the pair’s outlook.

No impetus

In the run-up to the ECB meeting on Thursday, the market seems to be shying away from trading EUR/USD sustainably below the 1.07 mark. 

Today, the EUR/USD is likely to move sideways for lack of impetus. There is hardly anything on the data side and due to the blackout period there will be no comments from the ECB or the US Fed.

However, Wednesday's US inflation release will be a data heavyweight that could bring a little more movement to the EUR/USD. Until then, we should enjoy the calm before the storm.