BREAKING: EURUSD rebounds sharply after Lagarde comments

4:34 PM 21 February 2023

EURUSD pair dropped sharply following the release of latest PMI data from the US, however buyers quickly regained control supported by another slew of hawkish remarks from ECB President Lagaarde.

  •  I intend to raise rates by 50 basis points in March.

  • In 2023, there will be no eurozone countries in recession.

  •  Headline inflation has begun to slow down.

  • I don't see a wage-price spiral in the Eurozone and rapid nominal wage growth is part of catching up.

  • The extent to which rates rise will be determined by data.

EURUSD pair again jumped above the major resistance zone between 1.0660 -1.0670. Nevertheless as long as the pair sits below 1.0700, the main sentiment remains bearish. Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits