The market major is stuck to parity, unwilling to give it up. The current quote is 1.0000.
Yesterday, a monetary politician from the European Central Bank has mentioned that sooner or later the regulator will have to start Quantitative Tightening. Also, the ECB will have to increase interest rates to the level that would bring inflation to target levels as fast as possible.
These levels will be directly bound to the CPI dynamics, economic conditions, energy carriers prices and the demand for them.
Certain ECB members are sure that inflation in the Euro zone will remain at 10.7% in the nearest future. It will start declining in the first half of 2023 but on the whole, both average and base inflation will remain high.
Today, the macroeconomic calendar is empty both for the Euro zone and the US. The market will be looking at near-economic events and, most importantly, the US Congress elections.
Source: Roboforex
