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- Likely that the ECB will hawkishly recalibrate policy at its March meeting – Morgan Stanley
Likely that the ECB will hawkishly recalibrate policy at its March meeting – Morgan Stanley
Morgan Stanley (MS) conveyed bullish bias for the Euro currency, also shared a hawkish view for the European Central Bank (ECB) monetary policy meeting in March, during the latest analysis.
MS initially said, “We turn bullish on the EUR in the wake of the hawkish ECB meeting and recommend long EUR versus USD, JPY, and GBP,” while matching most market consensus.
However, the investment bank cites inflation concerns to hope for a hawkish ECB outcome in March. “Firming inflation seems to have prompted elevated concern from ECB policymakers (who expressed "unanimous concern" about inflation), and it seems increasingly likely that the ECB will hawkishly recalibrate policy at its March meeting," said MS.
While the ECB is a bit far, the European Commission’s Economic Growth Forecasts, up for publishing on Thursday, together with the US Consumer Price Index (CPI) data, will be crucial for short-term EUR/USD moves.
Read: EUR/USD Price Analysis: 100-DMA defends bulls around 1.1450
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