Earlier today Eurozone M3 money supply came in unchanged at 5.0%, as expected in February data. Amid the components, private sector credit showed a 3.2% y/y increase, up from 2.6% y/y growth in the previous month. This moving in the right direction, though below where ECB policymakers would like. Money supply has long since been demoted in the metrics the ECB uses in formulating policy decisions. Over the last week EURUSD traded lower from the weekly Bollinger Bands after it had rallied for three weeks in a row. Stochastics oscillator is near overbought levels in the ... READ MORE
