The euro hovered near $1.08, its weakest since March 6, as investors digested PMI data and ECB comments. Eurozone private sector activity grew at its fastest pace since August but missed expectations, with manufacturing rebounding and services slowing.
ECB’s Cipollone and Stournaras signaled growing support for a rate cut, possibly in April, citing faster disinflation. Lagarde warned of weaker growth but downplayed inflation risks from EU-U.S. trade tensions, suggesting no rate hikes. De Galhau also noted room for further easing.
Key resistance is at 1.0860, followed by 1.0950 and 1.1000. Support stands at 1.0730, with further levels at 1.0660 and 1.0600.
ECB’s Cipollone and Stournaras signaled growing support for a rate cut, possibly in April, citing faster disinflation. Lagarde warned of weaker growth but downplayed inflation risks from EU-U.S. trade tensions, suggesting no rate hikes. De Galhau also noted room for further easing.
Key resistance is at 1.0860, followed by 1.0950 and 1.1000. Support stands at 1.0730, with further levels at 1.0660 and 1.0600.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.