EURUSD responded to the support level of the march low at 1.11869 and moved slightly upward. this pair is trading around the 0.764 level of fibonacci circle, The prices could move toward the 0.764 fibonacci retracement which is also the intersection between 0.764 fibonacci circle and 2/1 Gann line at 1.14763. From the fundamantal view this pair is looking positive with European Central Bank provides liquidity operartions and refinancing operation to european banks. ongoing economic expansion and rising wage growth will probably lead ECB to hike the interest rate which will streghten the euro.
Fundamental & News
-The ECB delivered another easing package in the March meeting, consisting of strengthened forward guidance, new liquidity operations and prolonged full allotment regime in the refinancing operations.
-Measures of underlying inflation remained generally muted, but labour cost pressures had strengthened and broadened amid high levels of capacity utilisation and tightening labour markets. Looking ahead, underlying inflation was expected to increase over the medium term, supported by the ECB’s monetary policy measures, the ongoing economic expansion and rising wage growth.
Production increased 0.7 percent, Output was down 0.4 percent on the year.
EU’s Moscovici: Italy Is In A Very Delicate Growth Situation - EU Is Following Italian Growth Very Closely
Fundamental & News
-The ECB delivered another easing package in the March meeting, consisting of strengthened forward guidance, new liquidity operations and prolonged full allotment regime in the refinancing operations.
-Measures of underlying inflation remained generally muted, but labour cost pressures had strengthened and broadened amid high levels of capacity utilisation and tightening labour markets. Looking ahead, underlying inflation was expected to increase over the medium term, supported by the ECB’s monetary policy measures, the ongoing economic expansion and rising wage growth.
Production increased 0.7 percent, Output was down 0.4 percent on the year.
EU’s Moscovici: Italy Is In A Very Delicate Growth Situation - EU Is Following Italian Growth Very Closely