Energy alerts return; We remain bearish on EUR/USD until the end of the year – ING


EURUSD 1 day

ING Research maintains a bearish bias on EUR/USD until the end of the year.

“Energy-related news should be more relevant for the Euro this week, with falling temperatures in Europe and the Russian oil price cap coming into effect today. announced that it would rather cut production than sell at the embargo price. OPEC+ has held production steady and is not expected to meet again until February, but we continue to see risks that a tighter energy market situation in 2023 could lead to higher oil and gas as soon as possible. Given the high sensitivity of the EUR/USD to the Eurozone terms of trade (which is mainly driven by energy prices), further upside risks for energy commodities equal the downside risks for the euro“, notes ING.

This week, some stabilization in the dollar could falter the EUR/USD rally around the 1.0600/1.0650 area, and possibly lead to a more sustainable decline below 1.0450/1.0500. We remain bearish on the pair until the end of the year,“adds ING.

For transaction banking ideas, check out eFX Plus. For a limited time, get a 7-day free trial, basic for $79 per month and premium for $109 per month. Get it here.



Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button