Despite negative data from the Eurozone (weaker growth and confidence, lower inflation), the calm Dollar environment warns that EUR/USD could rise again. The range of 1.0520 to 1.0700 appears to be the new short-term range, and EUR/USD might climb towards 1.0650/1.0675, possibly triggered by the US unemployment claims announcement. The data calendar is light, but attention is on the speech by ECB Chief Economist Philip Lane. We anticipate he may hint at another rate hike in December, although the current forex market already fully prices in any further ECB tightening measures.
