EUR/USD could end the week back above the 1.0800 level – ING

EUR/USD holds below the 1.0800 level. Economists at ING analyze the pair’s outlook.

ECB waiting for European wage data at the end of April before likely cutting rates in June

It seems pretty clear now that the ECB will be waiting for European wage data statistics at the end of April before likely cutting rates in June.

EUR/USD today should be driven by the US CPI benchmarks revisions. Barring some aggressive upward revisions to the late 2022 numbers, we have a slight bias that this event risk is a bullish one and EUR/USD could end the week back above the 1.0800 level.