I am a Bear on the Euro.
The EUrozone has seen improvements in the labour market conditions. Core inflation has remained low, while headline inflation jas increased. This would explain the bullish move of the Euro in the market currently.
However it is important to note that core CPI jas not increased to warrant a change in monetary policy. The ECB is still monitoring Core inflation. The ECB’s APP(Asset Purchase Program) is lowered to accommodate CPI and not create hyper inflation for the Eurozone.the ECB is still in an expansionary policy and has not changed yet.
The RBA indicated growth in commodity prices, housing,and lending to households. This indicates a growing economy and supports bullish bias on the Aud.