EUR/USD: Limited impact from eurozone CPI data – ING

EUR/USD continues to trade very close to the 1.05 gravity line. Today, all eyes will be on the eurozone-wide CPI figures for June. However, inflation figures are unlikely to impact the shared currency, economists at ING report.

EUR/USD may end the week in the 1.0430-1.0500 range

“The euro appeared to have a reduced sensitivity to the inflation prints this week, and this may well be the case today as markets seem to have cemented their ECB tightening expectations.”

“EUR/USD should remain mostly a function of global risk sentiment and USD dynamics and may end the week in the 1.0430-1.0500 range.”

See – EUR/USD: Eurozone inflation data unlikely to lift the shared currency – Commerzbank