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Euro rises broadly today even though gains are so far limited. The common currency is lifted by stronger than anticipated Eurozone inflation figures, which suggests that the path to disinflation may be encountering obstacles. This development could providing ammunition to hawks within the ECB Governing Council, to advocate for a cautious approach towards rate cuts. […]

The post Eurozone Inflation Surprises Support Euro, ECB’s Holzmann Urges Patience on Policy appeared first on Action Forex.

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Euro Rallies on Inflation Surprise, US PCE Data Bolsters Stocks
31/05/2024

Euro Rallies on Inflation Surprise, US PCE Data Bolsters Stocks

Euro surges broadly today after Eurozone inflation data showed larger than expected re-acceleration in May. While this increase doesn’t shift the consensus that ECB will proceed with a rate cut next week, it significantly dampens any remaining expectations for a subsequent cut in July. Market speculation now leans towards the possibility of only two ECB […]
Franc and Yen Underperform, Canadian Dollar Anticipates Jobs Report
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Swiss Franc and Japanese Yen are currently the weakest performers for the week on a couple of interrelated factors. Firstly, global central bankers are tempering expectations for early rate cuts, suggesting rate difference between SNB/BoJ and other central banks would remain large for longer. This stance has been further compounded by a significant rebound in […]
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Forex Markets in Slow Motion: Anticipation Builds for Fed, BoE and Crucial Economic Data

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