ECB's Cippolone: Seeing some signs of economic recovery
Source Fxstreet
European Central Bank (ECB) Executive Board member Piero Cipollone said on Wednesday that they are seeing some signs of economic recovery in the Euro area, citing the latest PMI data.
Cipollone said that they expect inflation to resume on its path toward 2% next year and reach the target in 2025.
"If the incoming data in June and July confirm that confidence about the target improves, it will be appropriate to remove some restrictive measures imposed in 2023," he added, per Reuters, but noted that the impact of the Middle East conflict on energy costs is a major risk.
Market reaction
These comments don't seem to be having a significant impact on the Euro's performance against its rivals. At the time of press, EUR/USD was up 0.22% on the day at 1.0640.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
TradingKey - Global oil prices extended declines Tuesday, erasing last week's gains. WTI and Brent crude futures fell further, pressured by renewed Iraqi supply and Saudi price cuts, despite looming F
Michael Saylor and Strategy are heavily investing in Bitcoin, adding 10,624 more BTC to their already significant holdings, despite a tough year for their stock.
As institutional inflows into Bitcoin ETFs accelerate, active on-chain addresses are sliding, signaling a shift where investors prefer Wall Street wrappers over self-custody.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $58.65 during the Asian trading hours on Tuesday. The WTI price edges lower as Iraq restores production at one of its oilfields.
Gold Price Forecast: XAU/USD edges lower below $4,200 amid worries about hawkish Fed rate cutGold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
