Eurozone money markets now price in 20 basis points (bps) of European Central Bank (ECB) rate hikes by December 2022, compared to 17 bps last week, according to Reuters.

Market reaction

This headline doesn't seem to be having a meaningful impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.1420, where it was up only 0.05% on a daily basis.

Meanwhile, the market mood remains upbeat at the start of the week with the Euro Stoxx 50 Index rising more than 0.5% on a daily basis.