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Free AccessEURUSD Edges Towards Session Highs Post ECB, Sights Remain on 1.0933 Resistance
- Modest uptick for the single currency as the ECB’s well telegraphed 25bp cut is offset by higher-than-expected revisions to both growth and inflation for 2024 and for inflation in 2025.
- Additionally, by not committing to any particular rate path, and the confirmation of a meeting-by-meeting approach, this leaves markets unclear on the immediate next steps for the ECB’s Governing council.
- EURUSD is edging towards the overnight session highs of 1.0896 and above here, the week’s high of 1.0916 will take focus. Overall, a technical bull cycle in EURUSD remains in play and sights are on 1.0933, a Fibonacci retracement, before 1.0964/81, the March highs.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.