The pair EUR/USD it remains virtually unchanged in the day. The BBH economists They expect the pair to test the March high around 1.1185 if it breaks out of the April high at 1.0935.
It is difficult for the Eurozone not to avoid recession
“Euro is trading flat after hitting a fresh cycle high today at 1.0925, just below the April high at 1.0935. Breaking above this level would lead us to test the March high at 1.1185.”
“Yes, some sentiment indicators have improved in recent months, but most of the ECB’s 250 basis points of tightening hasn’t kicked in yet due to monetary policy delays. With another 150 basis points of tightening expected in the This year, it’s hard for the Eurozone to avoid recession. The warmer than normal weather has helped, as has the news about China reopening, but we don’t think it’s enough to avoid recession.”
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.
