EUR/USD Extends The Rally And Flirts With 1.0800 Ahead Of Fed

The buying interest around the European currency remains well and sound and pushes EUR/USD to the boundaries of the 1.0800 neighbourhood, or 5-week highs, on Wednesday.

EUR/USD Remains Bid On Fed-Day

EUR/USD extends the advance for the fifth consecutive session on Wednesday and remains well-bid ahead of the key FOMC event later in the European evening. On this, the Federal Reserve is widely expected to hike the Fed Funds Target Range (FFTR) by 25 bps to 4.75%-5.00%.

In the meantime, investors’ attention is shifting to the updated dots plot along with the press conference by Chief Powell, where a potential impasse in the Fed’s tightening stance should take centre stage.

Earlier in the session, Chair Lagarde was again on the wires and reiterated the absence of a trade-off between price and financial stability. She also renewed the bank’s pledge to bring down inflation at the time when she acknowledged that underlying inflation dynamics remain firm.

In the domestic calendar, the Current Account surplus in the broader Euroland widened to €17B in January (from €13B).

What To Look For Around EUR

EUR/USD keeps pushing higher and already trades at shouting distance from the key barrier at 1.0800 the figure ahead of the FOMC gathering.

In the meantime, price action around the European currency should continue to closely follow dollar dynamics, as well as the potential next moves from the ECB in a context still dominated by elevated inflation, although amidst dwindling recession risks for the time being.

Key events in the euro area this week: ECB Lagarde (Wednesday) – EMU Flash Consumer Confidence, European Council Meeting (Thursday) – European Council Meeting, EMU, Germany Flash PMIs (Friday).

Eminent issues on the back boiler: Continuation, or not, of the ECB hiking cycle. Impact of the Russia-Ukraine war on the region’s growth prospects and inflation outlook. Risks of inflation becoming entrenched.

EUR/USD Levels To Watch

So far, the pair is gaining 0.20% at 1.0787, and the break above 1.0793 (monthly high March 22) would target 1.0804 (weekly high February 14) en route to 1.1032 (2023 high February 2). On the flip side, there is initial support at 1.0516 (monthly low March 15), seconded by 1.0481 (2023 low January 6) and finally 1.0329 (200-day SMA).

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    “It is best to debate the relative advantages and dangers of the several sorts of drugs along with your rheumatologist,” Dr.
    Davis says. Details about Anabolic Steroids tell you in regards
    to the medication which replicate the human intercourse hormones similar to estrogen and testosterone.
    The main cause for the folks to abuse the drug is because of the physical look.

    Anabolic sustanon 250 steroids, Raymond, are
    manufactured medicine that carefully resemble the hormone testosterone or other androgens.
    Always seek the advice of healthcare professionals before contemplating steroid use.
    Misuse can have long-term consequences that outweigh short-term gains.

    Keep informed, stay secure, and prioritize well being over fast fixes.
    Steroid injections can be utilized for joint problems and rheumatoid arthritis.
    They may additionally be used for some situations affecting delicate tissues, like tendon irritation or tennis elbow.
    They can sometimes be given on the GP follow, if there is a physician, nurse
    or physio there who has had particular coaching to do this.

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