The Euro Area has seen continued improvement in data releases of late evidenced by yesterday’s upbeat German IFO survey on Business Climate and this morning drop in German PPI, which hit a 9-month low. It will be interesting to see if the Euro Area flash consumer confidence due later today can keep the improvement going. This morning we heard comments from ECB policymaker Nagel who stated the Central Bank is still a long way from hitting its inflation goal reiterating that the ECB likewise need to be persistent on rates. The improving data coupled with the ECB’s somewhat hawkish pivot last week, a case could be made for continued EUR/USD appreciation.
Today's EURUSD forecast
2 years ago by gavnor30 (25)