EUR/JPY sees upside above 142.00 despite BOJ looks to exit loose policy ahead – by Sagar_Dua24 EURJPY ECB BOJ Inflation GDP
ating a sideways profile but is likely to remain in the bullish trajectory amid an upbeat market mood.
The Euro drove the cross to neat 142.00 firmly after European Economic Affairs Commissioner Paolo Gentiloni trimmed the contraction forecast for Eurozone Gross Domestic Product . In an interview with the Italian newspaper Il Sole 24 Ore, Gentiloni stated that he expectsGDP contraction around the start of this year may be less deep than was expected in November.
He further added that “The 0.3% forecast still seemed quite solid but various factors suggested the contraction expected in the fourth quarter of 2022 and the first quarter of this year would not be so sharp as had been expected,” On the interest rate front, Reuters reported that the European Central Bank 's governing council member Mario Centeno said on Tuesday the current process of interest rate increases is approaching its end. Centeno expects that the stubborn price index will face resistance in January and February but will start falling in March.
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