EUR/USD marches towards 1.0900 as Fed/ECB policy stance diverges

24 sty 2023

The Euro remains supported by ECB officials fighting speculation of a 25 bps hike. S&P Global Manufacturing and Services PMI surveys will likely be a reality check for the strength of the shared currency.

Bulls remain in control of the sentiment around the European currency and motivate EUR/USD to flirt once again with the 1.0900 neighborhood on Tuesday.

Following Monday’s marginal gains, EUR/USD picks up the extra pace and extends further the march north to the proximity of the 1.0900 mark on turnaround Tuesday. So far, the pair navigates the third consecutive week with gains after shedding ground at the very beginning of the new year.

In the meantime, hawkish ECB-speak as of late helped maintain the bullish price action in the pair, which gained more than 4 cents since monthly lows near 1.0480 recorded on January 6.

24 sty 2023

Uwaga