EUR/USD to consolidate in a 1.08880 to 1.1020 range near term – ING

EUR/USD remains unchanged around 1.0950. Economists at ING analyze the pair’s outlook.

Seasonal factors may keep EUR/USD in check

Over the next month or so seasonal factors may keep the EUR/USD pair in check.

We retain a forecast of 1.08 for the first quarter of 2024, and EUR/USD has recently been more led by equities than by rate differentials.

We expect EUR/USD to consolidate in a 1.08880 to 1.1020 range near term and await Thursday's CPI data for the next big input to the story.