EUR/USD maintains its position as the US Dollar continues its downward correction. The US Dollar’s downside appears restrained due to dampened odds of an imminent Fed rate cut. ECB President Lagarde stated that Europe should pool its resources in areas such as defense and climate. EUR/USD remains steady with a positive bias, hovering around 1.0600 […]
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European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau said on Friday that there are “good reasons” for the central bank to consider cutting its key interest rates in September, per Bloomberg. Key quotes Our meeting on Sept. 12 should in my view take action. It would be fair and wise to decide […]
The flash estimate for HICP inflation showed an unexpected but marginal rise in headline inflation in July, to 2.6% from 2.5% in June. Core inflation held steady at 2.9%, against our expectations for a fall to 2.7%, ABN AMRO senior economist Bill Diviney notes. Inflation disappoints in July, but silver linings below the surface “Looking […]
Eurozone Manufacturing PMI dropped to 45.6 in June, missing 47.9 estimate. Bloc’s Services PMI dipped to 52.2 in June vs. 53.5 anticipated. EUR/USD keeps losses below 1.0700 after German, Eurozone PMI data. The Eurozone manufacturing sector downturn gathered momentum again while the services sector activity deteriorated in June, according to the data from the HCOB’s latest purchasing managers […]
