EUR/USD:FOMC minutes required to see a break towards 1.05 – ING

On Friday, the EUR/USD recovered from a low of 1.0613. ING economists feel that a hawkish set of FOMC minutes is required to push the pair below 1.05.

This week's focus is on PMIs.
"The Eurozone's focus this week will be on business confidence, as measured by PMIs and the German Ifo. The PMI results are expected to linger around 50, and the market may pay closer attention to the Chinese February PMI readings, which will be released later next week."

"The Dollar rise may have gone far enough for the time being, as EUR/USD found decent demand ahead of 1.06. It will almost certainly need a hawkish set of FOMC minutes on Wednesday for EUR/USD to break towards 1.05, where we expect robust demand ahead of a EUR/USD surge in the second quarter."

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