EUR Bullish
Monetary Policy : ECB signals consistent 50bp hikes ahead
Data : EZ PMIs dip into contraction territory but ZEW and IFOs beat
Politics & General Outlook : Bundesbank says Germany could avoid recession. ECB signals commitment to 50bp hike
USD Bearish
Monetary Policy : Fed signals smaller hikes ahead after Dec meeting
Data : CPI was weaker than expected but non-farm payrolls and retail sales were very strong
Politics & General Outlook : Broadly lower US data from NFP to CPI and retail sales. Fed rate hike only 25bp