EUR/USD to nudge back towards the 1.1460/80 area on hawkish ECB's Schabel comments – ING

EUR/USD continues to trade in narrow ranges. Economists at ING think there will be two event risks for the euro today. The first will be the 1 release of the European Commission's winter forecasts. The second event risk is the Twitter Q&A from ECB's Isabel Schabel. 

Schnabel and EC forecasts in focus

“The focus will be on how aggressively EC revises up its 2023 CPI forecast and what that may mean for the crucial ECB inflation forecasts released on 10 March. Any substantial revision well above 2.0% could give the euro a little lift today.”

“ECB's Isabel Schabel was one of the first of the ECB to publicly say that inflation risks were tilted to the upside. Similarly hawkish comments later today could help nudge EUR/USD back towards the 1.1460/80 area.”

“EUR/USD should remain supported near 1.1400 today.”