The EURUSD price continued its recovery during the Asian session as the market sentiment improved. Get our Forex signal here:
It rose to a high of 0.9731, which was the highest point since Monday. It has risen by almost 2% from its lowest level this week.The EUR/USD pair continued rising after several European Central Bank officials sounded upbat about rate hikes.
In a statement, Christine Lagarde said that the bank could raise rates by 0.75% for the second straight month. She also hinted that the bank will hike by either 0.50% or 0.75% in December. The same view was shared by several ECB officials who were addressing a session by the Atlantic Council. Peter Kazimir of Slovakia and Austria’s Robert Holzmann said that 0.75% was a good candidate. As a result, European bond yields rose as expectations that the ECB will hike rates to above 3% next year. Goldman Sachs analysts expect two 0.75% hikes this year.
Still, the challenge for the ECB is that most analysts expect that the European economy will sink to a recession as energy costs surge. While most countries have ample gas supplies for winter, the cost of gas prices will likely keep rising in the coming months.officials. In a statement, Raphael Bostic said that the bank will likely hike rates by 0.75% in the upcoming meeting. This is in line with what other Fed officials like Mary Daly and Susan Collins, the new head of Boston Fed.
There will be some important data from the EU and US on Thursday although their impact on the pair will be limited. In the US, the statistics agency will publish the latest GDP and initial jobless data. In Europe, the key data to watch will be the preliminary German and Spanish inflation numbers.The EUR/USD pair made a strong recovery in the overnight session. It managed to move from a low of 0.9540 to a high of 0.9731, which was the highest point since September 23.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Forex Signal: Euro is Still Extremely VulnerableThe EUR/USD price continued its bearish trend as hopes of a more hawkish Federal Reserve converged with concerns of European economy.
Read more »
EUR/USD Signal: No Reprieve Ahead of US Consumer DataEURUSD - The path of the least resistance is lower, with the next key support level being at 0.9500. EURUSD long $EURUSD forexsignals tradingsignals forex
Read more »
EUR/USD to plunge towards 0.9200/0.9150 on a break under 0.9500 – SocGenEUR/USD turned south on Wednesday and tumbled to a new low at around 0.9550. A break below 0.9500 would clear the path for further losses towards the
Read more »
EUR/USD renews 22-year high as yields propel DXY, focus on ECB vs. Fed drama, energy crisisEUR/USD renews 22-year as yields propel DXY, focus on ECB vs. Fed divergence, energy crisis – by anilpanchal7 EURUSD RiskAppetite Recession Fed ECB
Read more »
EUR/USD risks a potential drop to the 0.9500 area – UOBAccording to FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang, there is still room for EUR/USD to slip back to the 0.9500 region in the next
Read more »
EUR/USD drops back below 0.9700 as yields rebound ahead of US GDP, German inflationEUR/USD drops back below 0.9700 as yields rebound ahead of US GDP, German inflation – by anilpanchal7 EURUSD Inflation RiskAppetite YieldCurve CentralBanks
Read more »