EUR/USD is down near 1.0900, reflecting the broad bounce in USD, BBH FX analysts report.  

Eurozone disinflationary process remains well on track

"The Eurozone Q4 labor costs print is today’s domestic focus. The ECB projects labor costs growth to slow to 4.1% y/y in Q4 vs. 4.6% in Q3 and drift down to its historical average of 1.7% by 2027."

"The Eurozone disinflationary process remains well on track. Markets price-in about 50% odds of a 25bps ECB cut to 2.25% at the April 17 meeting and a total of 50bps of easing over the next 12 months. Looser fiscal policy in Germany and the EU’s military build-up plan lessens the need for the ECB to slash rates more than is currently priced-in which is EUR supportive."