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by EURUSD Fundamental Analysis – The euro climbed to a new peak since February 1st, reaching $1.085, as investors shifted their focus to the upcoming European Central Bank (ECB) meeting this week. They are keen to understand the bank’s future financial strategies.
Although interest rates are expected to stay at their current high levels, market participants are eager to dissect the latest economic forecasts and any hints from ECB President Christine Lagarde about when borrowing costs might start to decrease.
Recent figures show a drop in the Eurozone’s inflation rate for the second month, down to 2.6% in February, slightly above the predicted 2.5%. Furthermore, the core inflation rate fell to 3.1%, exceeding the anticipated 2.9%. This demonstrates the ECB’s careful approach toward reducing monetary policy measures.
EURUSD Fundamental Analysis 4-Hour Chart
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