EUR/USD bounces off 2022 lows around 1.0480, focus on data By pabspiovano EURUSD Currencies Majors
The dollar climbed to levels last seen in 2017 earlier on Thursday.drop to levels last seen in January 2017 around 1.0480 on Thursday.Following the earlier drop to the sub-1.0500 region, EUR/USD managed to regain some composure and looks to retake the 1.0500 hurdle and beyond in a context still dominated by the solid performance of the greenback. reached an area last traded back in January 2017 around 103.70, although the sharp move seems to have fizzled out somewhat later.
Earlier in the session, ECB Vice-president L. De Guindos stressed that the central bank does not target any exchange rate level and added that the economic growth is expected to be positive this year. De Guindos also noted that higher energy prices affect demand and lift production costs. at some point around June/July, while higher German yields, elevated inflation and a decent pace of the economic recovery in the region are also supportive of an improvement in the mood around the euro.: ECB 2021 Annual Report, Consumer Confidence, Economic Sentiment, Germany Flash Inflation Rate – Germany, EMU Flash Q1 GDP Growth Rate, EMU Flash Inflation Rate .: Asymmetric economic recovery post-pandemic in the euro area. Speculation of ECB tightening/tapering later in the year.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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