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ING expects EUR/USD to drift back near 1.1380 before ECB decision

ING says interest rate differentials and expectations for a stronger ECB response have supported EUR/USD, but the pair is still expected to react around the upcoming ECB meeting.

Reported · Written up by our desk · Major Pairs

FXStreet reports that Chris Turner at ING says EUR/USD has held up relatively well despite energy price gains and wider natural gas prices.

ING attributes the currency resilience to interest rate differentials and market expectations that the European Central Bank (ECB) will respond more strongly than the Federal Reserve (Fed).

Even so, ING expects EUR/USD to drift back toward 1.1380, then react to the upcoming ECB meeting, according to FXStreet.

FXStreet adds that EUR/USD was holding above 1.1400 in European trading, with upside capped by persisting Middle East tensions and surging oil prices.

Latest closeNat gas $2.883 ▲0.6%|EUR/USD 1.141 ▼0.0%

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