EUR/USD could creep higher again – ING

EUR/USD is enjoying something of a reprieve. Economists at ING analyze the pair’s outlook.

EUR/USD could drift up to the 1.0650/1.0675 area

Eurozone data has been nothing but euro-negative this week (weak growth and confidence, weaker inflation), but the calmer Dollar environment warns that EUR/USD could creep higher again. 

1.0520 to 1.0700 seems the new short-term range and EUR/USD could drift up to the 1.0650/1.0675 area, with perhaps US jobless claims a possible trigger for the move.

The data calendar is light, but look out for a speech from European Central Bank Chief Economist Philip Lane. We presume he'll hold the door open for another hike in December even though money markets have now completely priced out any further ECB tightening.