By eFXdata — Feb 27 - 09:30 AM
Credit Agricole CIB Research sees a scope for EUR/USD to enter into a phase of consolidation in the near-term.
"The release of the February ECB minutes may offer some explanation on why the bank expressed the exact magnitude of its next intended policy move, and what it means for future forward guidance. The first estimates of Eurozone inflation for February will likely be of a greater interest, as underlying inflation is yet to show convincing signs of a reversal," CACIB notes.
"Meanwhile, plenty of ECB members are scheduled to speak in the week ahead, while month-end flows and technicals could ultimately prove a more influential drag for the EUR, as strong supports seem to lie just under 1.05 for EUR/USD," CACIB adds.
Crédit Agricole Research/Market Commentary