EUR/USD meets strong resistance near 1.0760 ahead of data, ECB – by pabspiovano EURUSD Currencies Majors
Final Inflation Rate in France revised up in February.The European currency alternates gains with losses vs. the greenback and promptsEUR/USD maintains the recovery from last week’s 2-month lows near 1.0520 well in place and on the back of the renewed bearishness surrounding the greenback, particularly following last Friday’sand exacerbated after the SVB collapse and February disinflation reignited speculation of a pause in the Fed’s hiking cycle.
In the docket, final inflation figures in France came in a tad above the preliminary readings for the month of February and showed the CPI rising 1.0% MoM and 6.3% over the last twelve months. Later in the session, the Industrial Production in the broader Euroland is also due. In the meantime, price action around the European currency should continue to closely follow dollar dynamics, as well as the potential next moves from the ECB past the March meeting, when the bank has already anticipated another 50 bps rate hike.: EMU Industrial Production – ECB Interest Rate decision, ECB Lagarde – EMU Final Inflation Rate .: Continuation of the ECB hiking cycle amidst dwindling bets for a recession in the region and still elevated inflation.
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