<p>ECB Kazimir is saying:</p><ul><li>One inflation figure is not sufficient to slow rate hikes</li><li>There are many reasons to keep tightening in December</li><li>Any European recession will most likely be brief</li></ul><p>The EURUSD moved higher in early US trading after the better productivity data productivity has been on the decline in the US but rebounded in the last quarter as labor costs were less.</p><p>The EURUSD is still above its 100 hour moving average 1.05093. Staying above that is more bullish. Also remember that the 1.05155 level is the 50% of the 2022 trading range. So key area between 1.0509 and 1.05155.</p>
This article was written by Greg Michalowski at www.forexlive.com.