Commerzbank - EUR/USD should remain in its current trading range of 1.05-1.06

According to Commerzbank economists, the EUR/USD currency pair will trade in the 1.05-1.06 range, while markets are still unsure whether the European Central Bank (ECB) will raise interest rates in July or not.

May 10, 2022 - 04:32 PM 260 views

Commerzbank - EUR/USD should remain in its current trading range of 1.05-1.06

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© Commerzbank - EUR/USD should remain in its current trading range of 1.05-1.06

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According to Commerzbank economists, the EUR/USD currency pair will trade in the 1.05-1.06 range, while markets are still unsure whether the European Central Bank (ECB) will raise interest rates in July or not.

Does EUR/USD persist in the comfort zone?

A certain degree of uncertainty still exists as whether the ECB will have any guts to implement a lift-off in July month is of a no doubt but still justifies specifically if economic crisis arises.

While in connection with the Ukraine war crisis, there are no new levels of acceleration as sanctions and counter-sanctions persist. Furthermore, there is no reliable information as to whether the ECB will raise interest rates, and the EUR/USD pair is currently trading in its comfort zone, hovering around 1.05-1.06 for the time being

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