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EUR: Markets to tread carefully on Ukraine truce hopes – ING
By FXStreet Insights Team
Date Published: 8 Aug 2025 | Date Modified: 8 Aug 2025
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After an initial positive spillover on the euro from news of Trump meeting with Putin next week, markets now need to assess how realistic a truce is, ING's FX analyst Francesco Pesole notes.
After an initial positive spillover on the euro from news of Trump meeting with Putin next week, markets now need to assess how realistic a truce is, ING's FX analyst Francesco Pesole notes.
EUR to stabilise in the 1.166-1.170 area for now
"We expect they will tread carefully on the topic, considering there are few indications so far that Russia is ready to agree to a total ceasefire in Ukraine. The key gauges of market sentiment on this topic will be energy prices, EUR/USD, EUR/CHF and EUR/JPY."
"Back to EUR/USD, we could see some stabilisation in the 1.166-1.170 area for now. Next week’s US CPI will tell us whether another break higher is possible."
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