#EURUSD @ 1.08362 The backdrop remains supportive – ING
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EUR/USD trades sideways around 1.0830. But the near-term macro trends remain supportive, economists at ING note.
“China’s demand trends are supportive of pro-cyclical currencies like the Euro. That better outlook for the Eurozone could appear in today’s German January ZEW investor survey, where the expectations component is expected to have improved from -23 to -15.”
“The continuing fall in European natural gas remains a positive development for the Eurozone trade balance and is Euro supportive.”
“EUR/USD may consolidate in a 1.0780-1.0870 range today – but the near-term macro trends remain supportive.”
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