Reuters reports that the European Central Bank (ECB) plans to raise rates by 50 basis points in both February and March, and will continue to do so in the months to come, ECB board member Klaas Nott said. said in an interview with Dutch broadcaster WNL. on sunday.
“We expect a 0.5% rate hike in February and March, but it won’t be completed by then, and further action will follow in May and June,” Knott said.
EUR/USD update
(Possibly bearish schematic unfolding)
The Euro is in a bar brawl, chopping up support and resistance. If the bulls commit, the 1.0870/90s, potentially his psychological level of 1.09, could be attractive to the bears anticipating a premium for this week’s opening session.
With dangerous news events lined up on both the European and US calendars, traders may be reluctant to weigh too heavily ahead of traders contemplating an early February Federal Reserve meeting. Hmm.