EUR/USD gathers upside traction above 1.0800 ahead of Lagarde – by pabspiovano EURUSD Currencies Majors ECB
ECB Accounts, Chairwoman Lagarde come next in the docket.The European currency kicks in the second half of the week in a positive fashion and liftsEUR/USD advances for the second session in a row and keeps well in place the multi-day consolidative mood around the 1.0800 neighbourhood.
In the US calendar, Building Permits, Housing Starts, Initial Jobless Claims and the Philly Fed Manufacturing Index are all due followed by speeches by FOMC’s S.Collins and Vice Chair L.Brainard .EUR/USD bounces off recent lows in the 1.0770/65 band and manages to regain the 1.0800 mark and beyond amidst the better mood in the risk-associated universe.
: Continuation of the ECB hiking cycle amidst diminishing probability of a recession in the region. Impact of the war in Ukraine and the protracted energy crisis on the bloc’s growth prospects and inflation outlook. Risks of inflation becoming entrenched.So far, the pair is gaining 0.20% at 1.0815 and faces the next up barrier at 1.0887 followed by 1.0900 and finally 1.0936 . On the flip side, the breakdown of 1.0766 would target 1.0513 en route to 1.0481 .
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