EUR/USD soars amid rumors of an ECB rate hike by 0.5%Johannes Röll 21 / July / 22 Visitors: 545
This increase is directly related to a Reuters report that ECB policymakers will discuss whether to raise interest rates by 25 or 50 basis points on Thursday in an attempt to curb inflation, citing two sources who are directly familiar with the matter.
The sources also add that politicians are focused on concluding an agreement to provide assistance in the bond market to countries such as Italy, if they comply with the rules of the European Commission regarding reforms and budget discipline, which also has a positive effect on the Euro.
In addition, it should be recalled that investors will closely monitor the consumer price index in the eurozone at 11 a.m.
From a graphical point of view, if the EUR/USD pair can overcome the 1.0250 mark, the next potential resistances will be at 1.0300, and then 1.0350, which is the threshold above which the downtrend seen in the daily data will begin to weaken.
Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer