S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
ING’s Francesco Pesole sees a decent risk that EUR/USD will need to test 1.140 as lingering post-Fed Dollar momentum plays out before any renewed upward pattern. He argues that positive US-Iran headlines and improved Eurozone terms of trade should limit downside, while upcoming confidence data and Purchasing Managers’ Index (PMI) are not expected to be major drivers for EUR/USD.
Euro faces 1.140 test risk
“In line with our USD view above, we see a decent risk that EUR/USD will have to test 1.140 on the back of a long tail of post-Fed USD momentum before re-entering any upward pattern.”
“At the same time, positive headlines from the US-Iran negotiations suggest the depth of the next leg lower should be more limited; the commodity terms of trade for the eurozone have recovered more than half of the initial war-related drop.”
“On the data side, we’ll see eurozone confidence data and PMIs today and tomorrow. Still, the surveys may not yet reflect the interim peace deal and could still signal a less optimistic mood.”
“We don’t expect those to be a key driver of EUR/USD, which remains very heavily dominated by the USD leg.”
Profit
Everyone's racing to cut costs. We're racing to create profit.
Start Selling through Service
