EUR/USD Seen In Narrow Range Near Term -- Market Talk

Dow Jones02-19

0848 GMT - The euro is trading flat against the dollar and it is likely to remain in a narrow range near term, Chris Turner, global head of markets at ING, says in a note. "One-week implied EUR/USD volatility at 5% suggests investors think EUR/USD is going nowhere fast," he says. "That is a sign to avoid chasing break-outs," he says, adding that ING's baseline would assume EUR/USD traces out a 1.0700-1.0800/1.0810 range this week, possibly moving toward the upper end if data is solid. Potential movers include the European Central Bank survey of negotiated wage rates on Thursday and the release of flash purchasing manager surveys on Thursday. As for PMIs, any better-than-expected readings for February could help the euro, Turner says. EUR/USD is flat at 1.0786. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

February 19, 2024 03:48 ET (08:48 GMT)

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Potential movers include the European Central Bank survey of negotiated wage rates on Thursday and the release of flash purchasing manager surveys on Thursday. As for PMIs, any better-than-expected readings for February could help the euro, Turner says. EUR/USD is flat at 1.0786. 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Potential movers include the European Central Bank survey of negotiated wage rates on Thursday and the release of flash purchasing manager surveys on Thursday. As for PMIs, any better-than-expected readings for February could help the euro, Turner says. EUR/USD is flat at 1.0786. 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As for PMIs, any better-than-expected readings for February could help the euro, Turner says. EUR/USD is flat at 1.0786. 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