EUR/USD 2/6 - 2/10

EUR Bullish

Monetary Policy : ECB signals consistent 50bp hikes ahead

Data : EZ PMIs dip into contraction territory but ZEW and IFOs beat

Politics & General Outlook : Bundesbank says Germany could avoid recession. ECB signals commitment to 50bp hike

USD Bearish

Monetary Policy : Fed signals smaller hikes ahead after Dec meeting

Data : CPI was weaker than expected but non-farm payrolls and retail sales were very strong

Politics & General Outlook : Broadly lower US data from NFP to CPI and retail sales. Fed rate hike only 25bp