EUR/USD: ECB unlikely to offset other bearish factors – ING

The European Central Bank (ECB) April meeting should not be one for major policy shifts. This means that the ECB may not come to the rescue of the euro, economists at ING report.

EUR/USD to trade in the 1.05-1.10 range into the summer months

“We do not expect the ECB to deliver a hawkish enough statement to offset the unsupportive external environment and valuation of the euro.”

“A sustained recovery in EUR/USD is not on the cards in the current environment, and we expect the pair to trade in the 1.05-1.10 range into the summer months.”