Euro Stays Steady as ECB's Rate Cut Looms Amid Mixed Economic Signals
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
With the Euro holding just above 1.08 against the USD, all eyes are on the ECB's impending 25 basis point rate cut and Christine Lagarde’s post-decision press conference for insights into the future policy trajectory amidst conflicting economic data.
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