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Note: Low and High figures are for the trading day.
Note: Low and High figures are for the trading day.
Note: Low and High figures are for the trading day.
Note: Low and High figures are for the trading day.
Note: Low and High figures are for the trading day.
Note: Low and High figures are for the trading day.
The European Commission’s Spring Forecast for 2022 revised Eurozone inflation upward to 6.1% in 2022 as expected with forecasts expected to decline to 2.7% in 2023.
Growth projections in the region were subsequently lowered to 2.3% from 2.7% in February.
Initial reaction from the Euro was positive with higher inflation potentially leading to a more aggressive ECB .
Money markets are looking more hawkish than last week Friday with roughly 94bps priced in for 2022 as opposed to 80-85bps on Friday.
The ECB’s Villeroy added support for the Euro stating that the June meet will be “decisive” while moving towards a “neutral rate”.
ECB INTEREST RATE PROBABILITIES Source: Refinitiv EUR/USD DAILY CHART Chart prepared by Warren Venketas , IG Resistance levels: Support levels: IGCS shows retail traders are currently LONG on EUR/USD , with 76% of traders currently holding long positions (as of this writing).
At DailyFX we typically take a contrarian view to crowd sentiment however, recent changes in long and short positioning result in a mixed bias.
Contact and follow Warren on Twitter: @WVenketas DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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