EURUSD SIGNAL 08/09/22/:EURUSD loses the grip and turns negative below parity on Lagarde.



EUR/USD loses the grip and turns negative below parity on Lagarde

  • EUR/USD abandons the area of recent peaks near 1.0030.
  • The ECB’s projections are quite upbeat when it comes to growth.
  • Future policy decisions by the ECB remain data dependent.

 EURUSD SIGNAL :Sellers seem to be regaining control around the European currency and prompt EURUSD to surrender initial gains and slip back below parity as Lagarde’s presser is under way.

EUR/USD looks offered, Lagarde fails to surprise markets

After climbing as high as the 1.0030 region, or multi-day highs, EUR/USD could not stick to those gains and sparked a corrective move back below the parity zone.

EURUSD SIGNAL :The move lower in spot followed Chairwoman C.Lagarde’s press conference after she reiterated that future policy decisions will remain data dependent and on a meeting-by-meeting basis. Lagarde acknowledged that the labour market remains strong and weaker global demand continued to weigh on growth.

She noted that the weaker euro also collaborates with the elevated inflation as well as supply bottlenecks. Still on inflation, Lagarde suggested that food and energy costs could remain higher than expected at the time when a pick-up in inflation expectations warrant monitoring.Confuse Which Broker is best ? , Here you can find the best regulated broker



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