What to look for around EUR EUR/USD regains some balance and looks to extend the trade beyond the 1.0600 yardstick amidst the broad-based consolidative mood. In the meantime, price action around the European currency should continue to closely follow dollar dynamics, as well as the potential next moves from the ECB after the bank has already anticipated another 50 bps rate raise at the March event. Back to the euro area, recession concerns now appear to have dwindled, which at the same time remain an important driver sustaining the ongoing recovery in the single currency as well as the hawkish narrative from the ECB. Key events in the euro area this week: Germany Balance of Trade, Final Services PMI, EMU Final Services PMI (Friday). Eminent issues on the back boiler: Continuation of the ECB hiking cycle amidst dwindling bets for a recession in the region and still elevated inflation. Impact of the Russia-Ukraine war on the growth prospects and inflation outlook in the region. Risks of inflation becoming entrenched.