EUR/USD might experience a slight increase this week, according to analysts at ING, after facing resistance near 1.0800 on Monday.
The growth forecast isn’t a major concern for the European Central Bank (ECB) at the moment. The analysts anticipate a modest uptick in the pair in the coming days.
One factor that could affect this prediction is the release of the ZEW survey in Germany today. Although the consensus suggests a minor improvement in the expectations index and a slight decrease in the current situation index, this event typically has a limited impact on long-term ECB rate expectations.
Despite expectations of a sluggish economic growth period in the Eurozone, particularly in Germany, the ECB’s narrative is not anticipated to shift significantly even if the outlook worsens slightly.
