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The Euro rises ahead of a week full of highly anticipated data

26 Feb,2024
The Euro rises ahead of a week full of highly anticipated data


The euro witnessed a rise, returning to achieve the gains that had stopped in the previous session against the US dollar after the possibility of reducing European interest rates receded next April, as the euro rose against the dollar by 0.15% to ($1.0832) after the euro had lost less than on Friday. 0.1% against the dollar as part of correction and profit-taking operations.
Later today, markets await European Central Bank President Christine Lagarde's comments about the annual report, as these comments are expected to provide new evidence about the future of monetary policy in the euro zone.

In terms of last week’s transactions, the euro achieved an increase of 0.4% against the dollar, the first weekly gain in a month and a half, and the largest weekly gain in 2024, specifically since mid-December 2023.

According to the minutes of the latest European Central Bank meeting, officials agreed that it was too early to discuss interest rate cuts, despite recent signs of easing inflationary pressures across the euro zone.

In addition to important data expected for the euro zone this week, the most important of which is the German consumer price index expected to be released on Thursday, and the euro zone consumer price index expected on Friday, which is expected to record a rate of 2.5%, i.e. less than the previous rate, which had recorded 2.8%.

*All data provided is intended for educational or informational purposes only and should not be considered investment advice.


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