EUR/USD should remain offered in a 0.9900-1.0100 range this week – ING

EUR/USD has been finding some support near 0.9920 but remains vulnerable. The pair is set to trade within a 0.99-1.01 range this week, economists at ING report.

Look out this week for natural gas prices

“Markets now price a 63 bps ECB hike on 8 September – we expect 50 bps. And the market also prices 160 bps of ECB tightening by year-end, which again looks far too much according to our eurozone macro team.”

“Look out this week for natural gas prices. These corrected sharply in Europe yesterday. But whether Russia restarts gas flows via Nordstream 1 after three days of maintenance (starting tomorrow) will be a major driver of gas prices and also of the European currency complex this week.”

“EUR/USD should remain offered in a 0.9900-1.0100 range this week.”