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Aug 30 - 07:55 AM

EUR/USD - Firmer But Vulnerable Despite ECB Bets

By Peter Stoneham  —  Aug 30 - 06:15 AM
  • Speculation surrounding the ECB's policy outlook providing some support

  • Market bets on a 75-bps rate hike have pulled the EUR back through parity

  • A dangerous game given the deepening energy crisis in Europe

  • A larger rate hike could increase the risk of recession

  • The USD is not about to give up its rate hike advantage or safe haven role

  • German CPI later in the session: high print to endorse ECB's hawkish stance

  • Technically, some bullish pointers: Long candle shadow Mon and 10DMA breach

  • Levels to watch: 0.9915-1.0090, recent price extremes

    For more click on FXBUZ






Source:
Refinitiv IFR Research/Market Commentary

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