ECBs Stournaras:
- Will see peak of inflation this year
- Inflation to gradually decline 2023
- Risks to growth tilted to the downside
Meanwhile the EURUSD is continuing its rebound off of the 100 hour moving average bounce (US and day lows near 0.9981).
The price just reached 1.00346 which took the price above last Thursday's high price at 1.00328 briefly. If the pair is to continue its run to the upside getting above the 38.2% retracement of the move down from the August high at 1.00782 would be needed.
Nevertheless holding the 100 hour moving average keeps the buyers in play in the door open for further upside potential.
EURUSD bounces off the 100 hour moving average
