EUR/USD remains capped by 1.1000 ahead of key data – by pabspiovano EURUSD Currencies Majors
Germany’s IFO Business Climate next on tap in the docket.
Looking at the broader picture, the upside bias prevailing in the pair since mid-March remains underpinned by expectations of further tightening by the ECB at its upcoming meetings. On this, a 25 bps rate hike appears already largely priced in in May, while speculation of extra raises at the June and July gatherings also remains on the rise.
Meanwhile, price action around the single currency should continue to closely follow dollar dynamics, as well as the incipient Fed-ECB divergence when it comes to the banks’ intentions regarding the potential next moves in interestMoving forward, hawkish ECB-speak continue to favour further rate hikes, although this view appears in contrast to some loss of momentum in economic: Germany IFO Business Climate – Germany GfK Consumer Confidence – EMU Final Consumer Confidence, Economic Sentiment –...
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