If I had to opt for one side or the other, I would favor the lower end in EUR/USD since the US economy has so far proven to be more robust than expected but think that everyone is quite happy with the current levels around 1.09.
EUR/USD is still range bound around the 1.09 mark. Economists at Commerzbank analyze the pair’s outlook.
Everyone is quite happy with the current levels around 1.09
I assume that focus will remain on the Dollar, while the US data as well as the Eurozone PMIs might cause a few pips worth of movement if there are no outliers; the gravitational pull of the 1.09 mark will continue though, and we will continue to see a boring sideways trade in EUR/USD.
Since the start of the week, the pair has always been just above or just below 1.09 with a slight downward trend. During the silly season, there really is no good reason for a complete revaluation of EUR/USD.