Select Language

EUR: ZEW might underwhelm - ING

Breaking news

EUR: ZEW might underwhelm - ING

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
update 2025.06.17 17:36
EUR: ZEW might underwhelm - ING

update 2025.06.17 17:36

EUR/USD price action is so far endorsing our call that markets are not ready to take the pair much above 1.160 just yet. The upside risks aren't small though, for instance, if markets are disappointed with the trade headlines from Canada and oil prices correct lower due to perceived abatement in the Middle East turmoil, ING's FX analyst Francesco Pesole notes.

Euro's contribution to EUR/USD moves remains minimal

"Yesterday, ECB Governing Council member Joachim Nagel briefly mentioned the oil rally as a potential risk to price stability, and otherwise reiterated President Christine Lagarde's narrative that the ECB is in a good position with rates. But it is indeed oil prices that are likely to have the biggest impact on rate expectations at the moment. Unless Brent corrects further, markets may not really consider bringing the next cut forward to October."

"The euro's contribution to EUR/USD moves remains minimal, but today's release of the ZEW survey in Germany can have some market impact. The 'expectations' gauge is seen rebounding further to 35.0, but concerns about the EU-US trade standoff (albeit currently not the primary theme) could cap the upside."

"We favour 1.15 rather than 1.16 as a near-term target and have a bearish bias on EUR/USD today. But the quite evident market preference to buy the dips in the pair means risks are still generally skewed to the upside."


Date

Created

 : 2025.06.17

Update

Last updated

 : 2025.06.17

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

RUB: Sanctions threat returns - Commerzbank

The likelihood of new, harsh sanctions on Russia is rising again: western leaders are abandoning hopes of meaningful diplomacy and reverting back to economic pressure, which had been the consensus strategy until US President Donald Trump took over.
New
update2025.07.10 18:33

Silver price today: Silver rises, according to FXStreet data

Silver prices (XAG/USD) rose on Thursday, according to FXStreet data.
New
update2025.07.10 18:31

AUD/USD: Momentum buildup is fading - UOB Group

Further consolidation in Australian Dollar (AUD) still seems likely against US Dollar (USD), probably between 0.6505 and 0.6555.
New
update2025.07.10 18:22

USD/CHF holds gains near 0.7950, further upside seems limited

USD/CHF gains ground after two days of losses, trading around 0.7950 during the European hours on Thursday.
New
update2025.07.10 18:18

Antipodean holds not enough to turn around flows - BNY

Before the global financial crisis, AUD and NZD were considered the favored carry currencies, especially funded out of low-yielding names in APAC.
New
update2025.07.10 18:14

USD/JPY eyes key 148 resistance - Société Générale

USD/JPY has rebounded after defending its May low of 142.10, with daily MACD momentum turning positive and suggesting a recovery phase. The pair may now test the critical resistance zone at 148/148.65, while 144.20 serves as nearby support, Société Générale's FX analysts note.
New
update2025.07.10 18:09

NOK: Hot core inflation takes August cut off the table - ING

Norway released June CPI figures this morning, ING's FX analyst Francesco Pesole notes.
New
update2025.07.10 18:00

Dow Jones futures dip as Trump's copper tariff hits investors' confidence

Dow Jones Index Futures point to a negative opening on Thursday as investors' concerns about the consequences of Trump's copper tariffs to the US industry offset the positive impact of the dovish tilt observed in the FOMC minutes.All the main Wall Street index futures are in the red today.
New
update2025.07.10 17:56

GBP/USD: Likely to trade in a sideways range of 1.3570/1.3635 - UOB Group

Momentum indicators are still mostly flat; Pound Sterling (GBP) is likely to trade in a sideways range of 1.3570/1.3635 against US Dollar (USD). In the longer run, the likelihood of GBP dropping to 1.3510 is increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
update2025.07.10 17:55

USD: Could the USD come out stronger amid the tariff noise? - ING

Trump's letters to trading partners are so far primarily affecting local markets, rather than the broader market. Yesterday's surprise 50% tariff announcement on Brazil has triggered a major BRL selloff.
New
update2025.07.10 17:51

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel