The Euro remained almost flat against USD last week a touch above 1.08. The ECB is set to cut interest rates by 25 basis points on Thursday this week. The path beyond the meeting remains unclear, however, after new data created a mixed economic picture: unemployment fell to 6.4% last week with both annualized inflation and core inflation accelerating against market expectations. This led to hawkish comments from several ECB members and markets will closely watch Christine Lagarde’s press conference following the interest rate decision for any signs of clear forward guidance.
Published on 5 June 2024
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