EUR: Hard to keep a good currency down – ING

Analysts at ING expect the benign market conditions to extend into this week and the EUR to remain supported.

Key Quotes

“On the US side, a slightly lower nonfarm payrolls release in Friday's jobs report (we see +160k) is unlikely to dent the growth story, although our economists expect wage inflation to remain subdued.”

“While Thursday's release of flash Eurozone CPI should portray a still subdued pricing environment, we doubt the EUR has to correct much lower. After all the risks of a US debt ceiling impasse seem to be growing, while the Eurozone macro story - which backs an eventual ECB tapering - remains firm.”