SubscribeWe commit to never sharing or selling your personal information, as it recorded gains. There was also retracement towards the 1.0867 resistance level, the highest for the currency pair in months, and closed the week's trading around the 1.0830 level.
But the underlying economic improvements come along with communications from the European Central Bank that at least two additional interest rates of 50 basis points will be delivered in early 2023 in order to bring inflation back under control. “The recent hawkish ECB pivot should support the upside in the medium term,” the analyst added.
But more importantly, financial markets are now pricing in around 150 basis points for interest rate cuts by the first half of 2024, far exceeding the roughly 50 basis points expected by the ECB in that period.But Barclays says its outlook upgrades still reflect risks of rising gas prices again and threaten sentiment on the prospects for recovery in the eurozone. Barclays now holds a forecast for EUR/USD at 1.
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