EUR/USD remains supported above 1.0800. Economists at ING analyze the pair’s outlook.

Downside risks into Thursday

We do fear that EUR/USD has a little downside later this week on Thursday's European Central Bank risk.

We see risks of a weaker Euro as the ECB lays out the conditionality of a June rate cut. Combined with Fed speeches this week, our bias is that EUR/USD ends the week near 1.0800.

The Eurozone data calendar is light today, and we doubt the January PPI release is a market mover.