EUR/USD looks firmer and now targets the 1.0880 zone – by pabspiovano EURUSD Currencies Majors
The risk appetite continues to support the upbeat mood in spot.to fresh daily highs near 1.0870 on Tuesday, just pips away from Monday’s YTD peak.The greenback loses its grip further and allows EUR/USD to gather extra steam and approach Monday’s so far yearly tops near 1.0880.
The uptick in spot, however, comes in contrast to the weak tone from yields on both sides of the Atlantic. Back to the euro area, the increasing speculation of a potential recession in the bloc emerges as an important domestic headwind facing the euro in the short-term horizon.: ECOFIN Meeting, Germany Final Inflation Rate / ZEW Economic Sentiment, EMU ZEW Economic Sentiment, Italy Final Inflation Rate - EMU New Car Registrations / Final Inflation Rate – ECB Lagarde, ECB Accounts - ECB Lagarde .: Continuation of the ECB hiking cycle amidst diminishing probability of a recession in the region.
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