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Verbal interventions from EBC officials expected

Verbal interventions from EBC officials expected | 09 November 2023

09 November 2023, EUR/USD

Verbal interventions from EBC officials expected

EURUSD trading plan:

The euro held onto a 15-year high against the yen and inched higher on the dollar, following hawkish remarks from European policymakers and the prospect of falling energy prices. Ireland's central bank chief Gabriel Makhlouf said on Wednesday further interest rate hikes should not be excluded, something markets were not expecting at all, while Bundesbank President Joachim Nagel said the "last mile" to the inflation target may be the toughest. As long as inflation remains above target, policy makers are likely to want to keep alive the risk of further tightening particularly since a significant drop in market rates could worsen inflationary risks.

Investment idea: range 1.0650 -1.0750.

David Johnson
Analyst of «FreshForex» company
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