As early as today, EU Commission President Ursula von der Leyen could publish the first details on the EU's plans to curb high energy costs. In the view of economists at Commerzbank, the euro could benefit if the measures are convincing.

Some support for the euro from the EU commission?

“Numerous ECB council members recently signaled that they would accept a recession in order to bring inflation back on target. But whether the central bankers will actually stand firm when a shrinking economy makes itself felt remains highly questionable.”

“If the Commission were to present convincing measures that could ease the burden on the economy, the euro could benefit. After all, this would increase the likelihood that the ECB can actually devote its full attention to fighting inflation.”