EL7.AI
Forex•13 July 2026•
1 min read

ING Forecasts Euro Slide Toward 1.1300 as Energy Prices Bolster Dollar

Key Facts

1ING forecasts the euro to face renewed pressure against the US dollar this month, potentially testing the 1.1300 level.
2ING believes rising energy prices reinforce expectations that the Federal Reserve may need to keep monetary policy tighter for longer.

Amid shifting dynamics in global currency markets, ING forecasts the euro to face renewed pressure against the US dollar this month, potentially testing the 1.1300 level. The bank believes that rising energy prices are reinforcing expectations that the Federal Reserve may need to keep monetary policy tighter for longer. According to reports, geopolitical tensions in the Gulf are providing more structural support to the US dollar than the euro, fueling a bearish outlook for the pair.

This forecast arrives as energy markets experience significant volatility; crude oil prices have risen by over 4% in the last quarter per market data, compounding global inflationary pressures. Compared to other major peers, the US dollar has shown greater resilience, supported by robust economic data, while the European economy continues to grapple with high production costs, evidenced by the recent 0.9% growth in German industrial production according to official figures.

Looking ahead, traders are focusing on the release of the FOMC minutes on July 8, which could provide critical signals regarding the future interest rate path. Additionally, markets are awaiting speeches from ECB officials for any hints on Eurozone monetary policy.