FX News

EURO/NZD Transfer

The ECB left rates unchanged and speculation is rife that interest rate cuts will begin in Q2, thus adding downward pressure to the Euro Dollar. This coming week is full of European GDP/growth and CPI/inflation across the European nations. If inflation resumes the downward direction of 2023 and growth continues to be recessionary (even contraction), then interest rates will be cut and the EUR will decline. The opposite is obviously true if GDP growth ticks upwards and inflation remains

Current Level: 1.7746
Resistance: 1.7857
Support: 1.7543
Last Weeks Range: 1.7550 – 1.7750

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