EUR/USD: Lacking a clear catalyst for another leg higher unless US data disappoints today – ING

EUR/USD consolidates in the 1.0800-1.0900 range. Economists at ING analyze the pair’s outlook.

Re-strengthening of the Dollar expected around Thursday’s US PCE

EUR/USD has found support since the start of this week, although it is now lacking a clear catalyst for another leg higher unless US data disappoints today. 

The Eurozone calendar only includes money supply figures today, and our expectations for a re-strengthening of the Dollar around Thursday’s US PCE release makes us sceptical of the sustainability of a EUR/USD rally at this stage.