EUR/USD gains ground for the fifth consecutive session on Monday near 1.0800. Economists at ING analyze the pair’s outlook.
EUR/USD volatility should remain capped
The holding pattern that EUR/USD has shown recently may well remain the norm in the coming weeks.
US CPI will be the big highlight for the pair this week, while the Eurozone calendar’s main release is Tuesday’s ZEW survey out of Germany.
We see some modest downside risks for the Dollar this week, and think EUR/USD can find some support back above 1.0800, although a return to the 1.0930/1.0950 area looks premature.