EUR/USD: Price to Test Resistance Area Before a Decline.
What to Expect for EUR Today: German ZEW Economic Sentiment and ECB President Lagarde's Speech
Today, the EUR may face downward pressure as the German ZEW Economic Sentiment is predicted to drop from 28.1 to 14.9. This could lead to reduced foreign investment and a weaker euro.
Regarding the central bank's notes, the ECB raised interest rates by 50 basis points to meet the 2% inflation target. Despite projected inflation averaging 5.3% in 2023 and growth at 1%, underlying price pressures remain strong. The bank will remain vigilant of market tensions and rely on data for policy rate decisions. The next meeting is set for 4 May 2023.
Today, the EUR may face downward pressure as the German ZEW Economic Sentiment is predicted to drop from 28.1 to 14.9. This could lead to reduced foreign investment and a weaker euro.
Regarding the central bank's notes, the ECB raised interest rates by 50 basis points to meet the 2% inflation target. Despite projected inflation averaging 5.3% in 2023 and growth at 1%, underlying price pressures remain strong. The bank will remain vigilant of market tensions and rely on data for policy rate decisions. The next meeting is set for 4 May 2023.
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