{"id":359539,"date":"2024-10-01T14:59:10","date_gmt":"2024-10-01T09:29:10","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=359539"},"modified":"2024-10-01T14:59:10","modified_gmt":"2024-10-01T09:29:10","slug":"can-trade-back-below-1-110-ing-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/can-trade-back-below-1-110-ing-crypto-news\/","title":{"rendered":"Can trade back below 1.110 \u2013 ING &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>The two-year EUR:USD swap rate continued\u00a0to widen in favour of the dollar yesterday, and is now around -110bp, some 25bp below the -85bp mid-September levels, ING\u2019s FX strategist Francesco Pesole notes.<\/p>\n<p>EUR can fall\u00a0below 1.110 in the coming days<\/p>\n<p>\u201cThe notion that an inflation-concerned ECB would move more carefully than the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\" data-fxs-autoanchor=\"\">Fed<\/a> on easing is crumbling, as Powell continued to signal no interest to cut by 50bp again and inflation figures in Germany, France, Spain and Italy are all endorsing the\u00a0ECB doves\u2019 case for a cut in October. Even <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/ecb\" data-fxs-autoanchor=\"\">ECB President Christine Lagarde<\/a> struck a more dovish tone yesterday as she pointed to greater confidence in disinflation, which will taken \u2018into account in our next monetary policy meeting in October\u2019.\u201d<\/p>\n<p>\u201cThe large moves in the EUR:USD short-term rate differentials are pointing to a weaker <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/eurusd\" data-fxs-autoanchor=\"\">EUR\/USD<\/a> now. Incidentally, we could see some fresh political risk premium being built into the euro as new French Prime Minister Michel Barnier is facing an\u00a0even worse than expected deficit situation, and a likely political battle ahead to push forward any budget consolidation measures.\u201d<\/p>\n<p>\u201cOur rates team does not expect any respite in French bond spreads. Barnier delivers a key Parliamentary speech at 3PM CET today: expect some debt\u00a0market volatility spilling into the euro. All in all, barring surprise in EZ and US data, we think EUR\/USD can trade back below 1.110 in the next couple of days, and test 1.100 if US unemployment doesn\u2019t tick higher on Friday.\u201d<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The two-year EUR:USD swap rate continued\u00a0to widen in favour of the dollar yesterday, and is now around -110bp, some 25bp below the -85bp mid-September levels, ING\u2019s FX strategist Francesco Pesole notes. EUR can fall\u00a0below 1.110 in the coming days \u201cThe notion that an inflation-concerned ECB would move more carefully than the Fed on easing is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6890,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[299,201,248,251,246,257,433,255,250,252,247,253,249,308,256,254],"class_list":["post-359539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-banks","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-eurusd","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/359539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=359539"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/359539\/revisions"}],"predecessor-version":[{"id":359543,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/359539\/revisions\/359543"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/6890"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=359539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=359539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=359539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}