© Archyde.com. Commerzbank: To what extent might the euro be affected by the upcoming ECB moves?
Arabictrader.com – Ulrich Leuchtmann, Head of Forex and Commodities Research at Deutsche Commerzbank, believes that there will be a recovery soon; The economist attributed his positive expectations to the moves of the European Central Bank towards combating high inflation. This reinforces the market’s expectations that these efforts will cast a positive shadow on the euro.
The economic analyst added that the European Central Bank may intend to raise interest rates at its next meeting in March by 25 basis points, which may negatively affect the euro; Since the FX market cares whether the ECB is actually committed to this, and the ECB’s recent comments imply, implicitly, that the Euro will not be hit much.
In terms of trading the euro-dollar pair; It is noted that the currency pair recorded an increase of regarding 0.25%, to be trading near the level of 1.0882 per.
