The euro is buying even more this week. Against the dollar, the pair has reached the psychological level of 1.10. In the last 24 hours, the euro has risen almost across the board against major currencies. Even the Swiss franc, which has been slightly behind, is showing a comparable performance.
The trend since the beginning of this year is also clear that the euro is strengthening. In the background, there seems to be a widening difference between the ECB and the FRB in their interest rate hike stances. The Fed is about to peak out, and it is likely that it will end with an interest rate hike in May. On the other hand, it has been pointed out that the ECB may raise interest rates consecutively in the future. It is widely believed that the European economy will not fall further than expected. It has also been pointed out that core inflation is showing a sticky rise. The euro-buying trend is persistent even in the daily nervous price movements.
The euro is a buying target. Today, we will focus on USD movements after U.S. new home sales (March) and the U.S. Conference Board Consumer Confidence Index (April).
