ECB's Holzmann: I expect multiple rate hikes of 50 basis point at least in the 1H of 2023

ECBs Holzmann is speaking to Austrian newspaper Die Presse and says:

• I expect multiple rate hikes of 50 basis points, at least in the 1H of 2023
• Core inflation is above 5%, which is 2 1/2 times our target
• there could be rate hikes if headline inflation has fallen significantly, but core inflation has not.
• I am reluctant to say inflation has peaked because core inflation has not.
• It could take two – three years to bring inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term down to target, or longer

The EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term remains near the high of the US session . The price is also remaining above its 100 hour movie is 1.0816. The current price trades at 1.0843.

Looking at the hourly chart below, the dip today found support bars against it's 200 hour moving average (green line in the chart below). The price high was reached in the European morning session at 1.08583. There is a swing area at 1.0866 to 1.08743. The high for the week reached 1.08868 but failed on the break above the swing area and that led to the rotation lower toward the 200 hour moving average.