EURUSD is likely to fall, touching support
The euro EURUSD inched 0.07% lower to $1.0757, its lowest point since Nov. 14. The single currency is down 1% this week and is on course for the steepest weekly decline since May.
Traders are betting that there is about an 85% chance that the ECB cuts interest rates at the March meeting, with almost 150 basis points' worth of easing priced by the end of next year.
The question of a rate cut could emerge in 2024, ECB member and Bank of France head Francois Villeroy de Galhau told a French paper in an interview published on Wednesday.
Villeroy said that "disinflation is happening more quickly than we thought".
The ECB will set interest rates on Thursday next week and is all but certain to leave them at the current record high of 4%, although the focus will be on comments from officials about rates outlook.
A slim majority of economists in a Reuters poll expect the ECB to cut rates in the second quarter of next year, earlier than previously thought, with a new tug of war on the exact timing of the first cut emerging.
The dollar has found its footing this month after a 3% drop in November as traders ramp up rate cut bets for other central banks.
Traders are betting that there is about an 85% chance that the ECB cuts interest rates at the March meeting, with almost 150 basis points' worth of easing priced by the end of next year.
The question of a rate cut could emerge in 2024, ECB member and Bank of France head Francois Villeroy de Galhau told a French paper in an interview published on Wednesday.
Villeroy said that "disinflation is happening more quickly than we thought".
The ECB will set interest rates on Thursday next week and is all but certain to leave them at the current record high of 4%, although the focus will be on comments from officials about rates outlook.
A slim majority of economists in a Reuters poll expect the ECB to cut rates in the second quarter of next year, earlier than previously thought, with a new tug of war on the exact timing of the first cut emerging.
The dollar has found its footing this month after a 3% drop in November as traders ramp up rate cut bets for other central banks.
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