EUR/USD Faces Downward Pressure Post US PCE Figures – ING

EUR/USD is hovering near the 1.0850 level, and experts at ING are assessing the pair’s prospects. They suggest that the Consumer Price Index (CPI) data won’t significantly alter the European Central Bank’s (ECB) stance. French and German CPI numbers are unlikely to prompt a shift in ECB communication. ECB President Christine Lagarde’s recent remarks emphasized the need for more conclusive evidence before adjusting policy. This likely involves waiting for wage data and suggests a low probability of a rate cut before June. ING anticipates some downward pressure on EUR/USD following the release of US Personal Consumption Expenditures (PCE) figures today.