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EUR/USD: 1.0750/1.0800 to be an appropriate trading range.

July 7, 2023

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EUR/USD is finding some support due to the soft-ish USD momentum, despite strong US data. Economists at ING analyze the pair’s outlook.Not worth chasing EUR/USD higher for now

We see a Dollar comeback as likely, so we would be reluctant to chase EUR/USD much beyond 1.0900. The current set of market conditions would suggest 1.0750/1.0800 to be a more appropriate trading range.

The Eurozone calendar remains uninspiring from a data standpoint but there are some ECB speakers to monitor today. President Christine Lagarde will participate in a panel although it is unclear whether she will discuss monetary policy, and we’ll also hear from Guindos, Stournaras and Nagel.

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