The euro recorded strong gains exceeding 70 points this morning, Thursday, April 21st, before the opening of the European markets, supported by the statements of the Vice President of the European Central Bank of Spain Luis de Guinhos moments before that the possibility of raising interest rates from the European Central Bank in July is not excluded, but is based on the data issued in the coming period.
These statements raised the expectations of the markets that the European Central Bank will start tightening monetary policy at the beginning of the second half of this year, as the markets have so far priced three interest rate increases at a quarter point for each time this year, and therefore any hints of imminent tightening of policy will support the rises of the euro.
After about two hours, the markets are awaiting the data of the CPI index, which measures inflation in the euro zone, in the final reading, as it is estimated that inflation will remain at 7.5% in March, at its highest level ever, unchanged.
The euro is trading at 1.0895 levels against the US dollar, at its highest level in a week.
02/11/2024
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