Euro recovered somewhat at the start of the week

The common currency most recently cost 1.0671 US dollars, slightly more than on Friday evening. The euro had lost significantly in value at the end of last week following the interest rate decision by the European Central Bank (ECB) and the statements of its President Christine Lagarde. The price had temporarily fallen to just over $1.06, its lowest level since March.

Interest rate peak reached?

The European monetary authorities raised key interest rates for the tenth time in a row on Thursday, but signaled that the interest rate peak could have been reached. Higher interest rates usually benefit a currency.

There are no important economic data due on Monday – neither in Europe nor in the United States. On the other hand, the US Federal Reserve’s interest rate decision on Wednesday evening is likely to cause movement.

The Fed will decide whether there will be another interest rate hike or a pause on interest rates in the fight against high inflation. After the key interest rate range was increased to 5.25 to 5.50 percent, the door remained open for further tightening in July.

Experts mostly assume that the US central bank will not raise interest rates any further for the time being. In any case, the statements from US Federal Reserve Chairman Jerome Powell are likely to be more exciting. Investors will be listening closely here with a view to the prospects for the coming months.

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