ECB Signals Hawkish Stance Again — Pressure on EURUSD?

The ECB's latest meeting sounded more hawkish, especially regarding inflation which remains higher than expected. Although European CPI figures are flat, the central bank's medium-term outlook hasn't changed. Therefore, I still believe EURUSD will face upward pressure in the short term. This kind of signaling makes the European economic picture look a bit more fragile, making me hesitant to hold too much long UGAZ at this time, due to concerns that the industrial sector in Europe might not recover as fully as the market hopes.