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The ECB has been increasing rates at a record

The ECB has been increasing rates at a record | 03 February 2023

03 February 2023, EUR/USD

EURUSD trading plan:

The European Central Bank raised interest rates by 0.5% and explicitly signalled at least one more hike of the same magnitude next month, reaffirming it would stay the course in the fight against high inflation. But financial markets immediately interpreted the move as suggesting the tightening cycle might in fact end soon - just as they had done after U.S. Federal Reserve chief Jerome Powell said there were signs inflation was easing. ECB President Christine Lagarde also dispute the interpretation that Thursday's move meant the hiking cycle was nearing the end. The ECB has been increasing rates at a record pace to fight rising prices which are the byproduct of factors including the aftermath of the COVID-19 pandemic and an energy crisis.

Investment idea: buy 1.0875 and take profit 1.0960.

David Johnson
Analyst of «FreshForex» company
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