The ECB raised interest rates by 50bps on Thursday and will be closely monitoring future inflation developments in the Euro area to decide its next move.
In the US, the three major indexes closed higher as First Republic Bank and Credit Suisse secured funding of $30 billion and $54 billion respectively. In the FX market, the US Dollar was down yesterday, heading for a modest decline ahead of the weekly close.
Looking at the key economic releases for today, the Eurozone CPI is expected to rise from -0.2% to 0.8% while Industrial production in the US is seen at 0.2% in February up from 0.0% registered previously.
Below, we will be analyzing the latest price action developments in the major currency pairs alongside gold.