The announcement about the EU’s debt raising plan has been refuted by the EU’s Timmermans however, markets largely dismissed this with the Euro pushing higher today. EUR/USD is likely to remain subdued ahead of tomorrows stacked calendar with the ECB’s interest rate decision and U.S. inflation respectively.
Monetary will have minimal effect on inflationary pressure as supply constraints are the root cause of the current problem. The relief may be short-lived and price action looks to be setting up for another move lower as tensions are unlikely to dissipate quickly.

EURUSD D1 03 09 2022 1157

 

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