Home Forex Rate increases of 0.5% are set for February and March.

Rate increases of 0.5% are set for February and March.

by SuperiorInvest

Reuters reported that the European Central Bank (ECB) is set to increase interest rates by 50 basis points in both February and March and will continue to raise rates in the coming months, ECB Governing Council member Klaas Knot said in an interview with Dutch television station WNL on Sunday.

“Expect us to raise rates by 0.5% in February and March, and expect us not to do so by then and for further moves to follow in May and June,” Knot said.

EUR/USD update

(A bearish pattern could be played)

The Euro is in a bullfight, cutting around support and resistance. If the bulls have committed, then the psychological level of 1.0870/90 and potentially 1.09 could be attractive for bears who expect a premium for the opening sessions of the week.

They exist scheduled red news events both on European and American calendar so traders may be reluctant to get too bullish ahead of those weighing in on the Federal Reserve meeting in early February.

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