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Euro Hovers around 100-day MA

From forexnews.com:

The euro trades just above its 100-day moving average against the dollar, now situated at 1.3330. We anticipate support for the pair in this region and look for a bounce toward 1.3450 and subsequently 1.3550. Later in the session, Eurozone economic data will see April industrial production, forecasted to jump to 4.4% on an annualized basis from 3.7% previously and slip to 0.2% from a month earlier at 0.4%.

The Eurozone economy continues to strengthen, with growth already outpacing that of the US -- providing the ECB with further cushion to tighten policy to contain inflation. ECB officials have oft-repeated the need for heightened vigilance in monitoring pricing pressures, raising expectations for additional rate hikes from the Bank. We anticipate at least one more rate hike in Q4, lifting the ECB’s benchmark lending rate to 4.25%.

For the sterling situation:

The consumer price index for May is forecasted to ease off last month’s reading of 2.8% to 2.6% on an annualized basis. The monthly CPI reading is seen unchanged at 0.3%. The retail price index is also forecasted to drift lower to 4.3% versus 4.5% a year earlier and slip to 0.4% from 0.5% in the previous month. The RPI-x data are also expected to decline, down to 3.3% compared with 3.6% in the previous year and at 0.4% from 0.5%. Lastly, the UK April trade deficit is seen largely unchanged at 7.0 billion sterling compared with March at 7.04 billion sterling.

We expect the sterling to edge higher over the coming weeks given sentiment for further policy tightening from the Bank of England, with at least one more rate hike seen likely. Our near-term forecast is for cable to revisit the key 2-level, and further out, retesting the April high of 2.0131.

With this being said. I'm pretty much confident that PMTFC will get out of the $20 floating loss soon. No sell hedge positions for now, will wait for indicators to say so.