EUR/USD may break 1.10 next week before the US NFP – ING

Economists at ING have been calling for 1.10 in EUR/USD for some time now. They suggest a time for when that level will be reached.

A pause before another jump?

“We think today the risks are more skewed toward consolidation in the pair. EUR/USD may find some floor around 1.0870/1.0880 in the face of a potential Dollar recovery with eurozone-wide data confirming core inflation requires more ECB tightening.”

“Our bias remains bullish for EUR/USD, and we think that 1.1000 can be broken sometime next week, barring surprisingly strong ISM data out of the US and amid an otherwise broadly quiet data calendar until Friday’s Nonfarm Payrolls.”