The widening gap in euro area inflation and PMIs creates expectations for a more dovish stance at the next ECB meeting, and that the monetary policy path will not be changed. This may cause investors and traders to limit the long positions on the single currency and wait for the meeting of the central bank to gain more clarity. It is possible the EUR crosses to enter into short-term consolidation. However, after any deeper short term correction, the bulls will be awakened as long-term expectations are positive.
Trader Nikolay Georgiev
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