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13.03.202309:33 Forex Analysis & Reviews: EUR/USD: price bounces upward

Exchange Rates 13.03.2023 analysis

EUR/USD

Euro climbed upwards despite expectations of a Fed rate hike.

Many were counting on a price decline as Fed Chairman Jerome Powell insisted on a hawkish stance, talking about the Fed's intention to raise rates harder and faster. However, such a move was not sustained.

Now, the market expects the ECB to pursue a 0.5% rate hike next Thursday.

There could be moves as early as tomorrow because ahead is the US CPI inflation report for March.

Nevertheless, the forecast is still the same, that is, euro will rise to the target level of 1.1000.

Keep buying from 1.0530.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Jozef Kovach,
Analytical expert of InstaSpot
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