Subdued Forex Trading as ECB Holds Rates Steady

Trading as been relatively quiet in European session today. Sterling strengthened slightly despite CPI data showing inflation returning to BoE’s target for the first time in three years. Notably, services inflation remains elevated at 5.7%, which could limit the BoE’s ability to aggressively ease policy, although the first rate cut is still expected in August. […]

Yen is having a moderate rebound today, spurred by slightly stronger-than-expected corporate services price inflation data. However, this uptick in is showing only restrained momentum, especially noticeable even against a weaker Dollar. The limited rise can be attributed to low market activity, as there are no significant events scheduled for the day. Nevertheless, this tranquility […]

Euro is facing significant selling pressure today, with its recent decline gaining momentum. Fresh data from ECB paints a grim picture: bank lending growth in July was notably sluggish, failing to meet even historical averages. Meanwhile, money growth, which had shown signs of improvement in prior months, remained stagnant with M3 increasing by just 2.3% […]