EUR/USD: Correction might extend to 1.09 – ING

Economists at ING believe that the EUR/USD pair could see additional losses toward the 1.09 level.

News from the US will drive most EUR/USD moves

“The debate about headline versus core inflation, given the pronounced energy base effect and the resilience of core measures, looks set to be a key leverage point for the hawkish rhetoric within the ECB.”

“Today, we’ll hear from Madis Muller and Mario Centeno, while the Euro remains without a clear domestic driver and news from the US will drive most EUR/USD moves.”

“There are lingering downside risks for EUR/USD, which might extend the correction to 1.0900 today.”