EUR/USD extends the uptrend, targets the March top near 1.0760 – by pabspiovano EURUSD Currencies Majors
Germany, EMU Economic Sentiment due next in the docket.The better tone in the dollar does not preventEUR/USD looks bid ahead of data, FOMC
The daily improvement in the pair comes despite the tepid rebound in the greenback and seems to follow the persevering hawkish narrative from some ECB-speakers, who appear to favour a 25 bps rate raise at the May event. An interesting docket in the euro area will see the Economic Sentiment tracked by the ZEW institute in both Germany and the broader Euroland ahead of another speech by Chairwoman Lagarde.
In the meantime, price action around the European currency should continue to closely follow dollar dynamics, as well as the potential next moves from the ECB in a context still dominated by elevated inflation, although amidst dwindling recession risks for the time being. – EMU Flash Consumer Confidence, European Council Meeting - European Council Meeting, EMU, Germany Flash PMIs .: Continuation, or not, of the ECB hiking cycle.
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