EUR/USD holds gains above 1.0750 as markets position for US inflation data, which is forecast to show a slowdown. Scotiabank economists say that if so, EUR/USD should extend the advance.
The ECB rate hike will support the euro
“ECB officials (Rehn, de Cos) continue to suggest ‘significant’ rate hikes in the coming months, which will support the euro.”
“Near-term trends reflect positioning ahead of US CPI data amid expectations for weak data and more pressure on the USD.”
“EUR/USD is consolidating above the 1.0750 area, which should be a platform for further gains, if the CPI is as weak as markets expect.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
