The EUR/USD pair is trading around the 1.0800 mark. Analysts at ING provide insights into the pair’s future prospects.
A more stable performance by the Renminbi could deter significant selling of EUR/USD below 1.0800. Last week, the Swiss National Bank’s unexpected rate cut drew attention to the European Central Bank’s (ECB) communication strategy. The ECB’s messaging remains mixed, with one hawkish stance suggesting a potential rate cut in April. However, money markets continue to assign a low likelihood to such a scenario, and this is unlikely to change significantly this week as no major data releases are expected.
While EUR/USD continues to show fragility, the Renminbi’s steadier performance may discourage aggressive selling of the pair below 1.0800.