The ECB presented a strong hawkish front;
- hiking rates by 50bps and commenting during the press conference that
- MORE hikes were coming,
- 50bps for a period of time, not pivoting,
- committed for the long term to bring inflation down to 2%
This saw the EURUSD climb strongly from 1.0620 up to 1.0735
HOWEVER, right after the press conference ended, the dollar bulls took control, driving the EURUSD back down.
Back down toward the key support level of 1.06.
Where could the EURUSD head from here? Stay tuned! This would be a HAWK and BULL battle worth watching.
- hiking rates by 50bps and commenting during the press conference that
- MORE hikes were coming,
- 50bps for a period of time, not pivoting,
- committed for the long term to bring inflation down to 2%
This saw the EURUSD climb strongly from 1.0620 up to 1.0735
HOWEVER, right after the press conference ended, the dollar bulls took control, driving the EURUSD back down.
Back down toward the key support level of 1.06.
Where could the EURUSD head from here? Stay tuned! This would be a HAWK and BULL battle worth watching.