EURUSD – Up
EURUSD trading plan:
The ECB will follow up on March’s move with a further 25-basis-point lift next quarter, giving a terminal deposit rate of 3.25% and a refinancing rate of 3.75%. Pierre Wunsch, head of the National Bank of Belgium and a member of the ECB Governing Council, said that rate hikes could exceed market expectations. Inflation in the 20 countries using the euro fell to an annual rate of 8.5% last month from 9.2% in December, official data showed. Given a host of positive developments in recent months, inflation could fall faster than earlier thought, ECB policymaker and Bank of Spain Governor Pablo Hernandez de Cos said. This is a positive signal for the European currency.
Investment idea: buy 1.0680 and take profit 1.0775.
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