EUR: another attempt to rise. Overview for 27.06.2022

Early in the week, EURUSD is trying to grow but the prospects are rather questionable.

The major currency pair is trying to rise on Monday. The current quote for the instrument is 1.0583.

There aren’t too many important statistics on Monday. However, the European Central Bank Governor Christine Lagarde will speak later today.

This is an intrigue for the EUR. Last week, market players’ attention was focused on the US Fed and now the ECB is taking the stage. Earlier, the European regulator said that it was going to raise the benchmark interest rate in July and September. The first hike is expected to be rather neutral, while the second one – is more aggressive.

These are average market expectations. The EUR will now depend on how the ECB behaves – the more confident Lagarde’s comments are, the better for the Euro.

Everything else is quite neutral. Last week’s comments from the US Fed Chairman Jerome Powell are already included in prices. Market players are ready that the American regulator will continue raising the rate until it knows that inflation is under control. The labour market may hurt but it is currently at its all-time highs, so that’s okay. Investors have plenty of time to psyche themselves up for it.