The Euro managed to correct. Overview for 20.05.2022

EURUSD got rid of the pressure and intends to rise. 

The major currency pair is fixing within a “flat” on Friday. The current quote for the instrument is 1.0568.

It seems like the comments about European inflation don’t scare anyone anymore. The ECB vice president Luis de Guindos said yesterday that the CPI would remain high in the upcoming months. At the same time, he believes that mid-term inflation expectations remain unchanged at 2%. Guindos is confident that the European regulator should act smoothly and be careful about its monetary policy. 

The ECB Monetary Policy Meeting Accounts released yesterday confirmed the fact that European policymakers were very worried about inflation in the region. Some of them emphasised that the ECB should show resolve to fight prices and help them reach stability.

The regulator should remain flexible because there are several factors that might help to make the CPI more stable. Even the slightest changes will be enough to make the accommodation monetary policy more “hawkish”.

This time, the fact that the regulator sees all inflation risks and realises the necessity of active measures supported the European currency. 

The statistics published by the US weren’t too confident. The weekly Unemployment Claims report showed 218K against the expected reading of 200K. The indicator is volatile but not all that much.

Today’s economic calendar won’t offer any numbers from Europe and the US, so market players will continue analysing what they already have. If nothing surprising happens, the Euro may continue its slow growth.

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Source: RoboForex


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