Micro Cap Stock News Hubb
Advertisement Banner
  • Home
  • News
  • Stocks & Capital News
  • Contact
No Result
View All Result
  • Home
  • News
  • Stocks & Capital News
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home News

EUR/GBP: The euro has appreciated sharply today. For how long? – Analytics & Forecasts – 28 November 2022

admin by admin
November 28, 2022
in News


The euro is developing an upward trend on the eve of the speech announced at 14:00 (GMT) by the head of the ECB, Christine Lagarde. Probably, market participants expect to hear tough statements from her about the need for decisive action on the part of the ECB in relation to rising inflation in the Eurozone. Although the Eurozone CPI forecasts suggest a slowdown in annual rates to 10.4% in November, the inflation rate remains the highest in several decades: in October its level was at around 10.6%.

While “risk of a recession has risen,” “we expect further rate hikes to levels needed to bring inflation back to our medium-term target of 2% in a timely manner. Inflation in the Eurozone is too high,” ECB President Christine Lagarde recently said at the European Banking Congress in Frankfurt. “Interest rates are and will continue to be the main tool for adjusting our policies,” Lagarde concluded.

Against the background of a sharp strengthening of the euro, the pair EUR/GBP rose sharply today at the beginning of the European session, reaching an intraday high of 0.8675.

The price rebounded from the key long-term support level 0.8585 and rushed towards the important resistance level 0.8680. In our today’s “Fundamental Analysis” we have already noted that near these levels, we expect a rebound. The signal for the resumption of short positions will be a breakdown of the important short-term support level of 0.8653.

*) for the events of the upcoming week, see the Key economic events of the week 28.11.2022 – 04.12.2022

Support levels: 0.8653, 0.8620, 0.8585

Resistance levels: 0.8680, 0.8690, 0.8720, 0.8825



Source link

Previous Post

5 Things To Know Right Now; Our Fall Special Ends Today! | Trading Places with Tom Bowley

Next Post

Hibbett, Silvergate Capital, Chemours and more

Next Post

Hibbett, Silvergate Capital, Chemours and more

Recommended

Aflac Stock: Still Room To Run? (NYSE:AFL)

3 months ago

Earnings Season Has Started EXACTLY As I Would Have Expected | Trading Places with Tom Bowley

3 weeks ago

© 2022 Micro Cap Stocks News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Stocks & Capital News
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • News
  • Stocks & Capital News
  • Contact

© 2022 Micro Cap Stock News Hubb All rights reserved.