On unstable ground this quarter – ING

On Friday, EUR/USD ended the session virtually unchanged around 1.0950. The pair stays relatively calm early Monday. Economists at ING analyze the Euro’s outlook.  

Rally above 1.10 still not looking likely

We still see gains above 1.10 in the EUR/USD pair as hard to sustain.

We continue to see EUR/USD on unstable ground this quarter, and any positive impact from softer US data/better EZ data may be more short-lived than downside corrections.

We target a return to the 1.08 mark over the course of this quarter.