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
Gold Price Forecast: XAU/USD rises to near $4,150 as Fed rate cut bets growGold price (XAU/USD) attracts some buyers to around $4,140 during the early Asian session on Tuesday. The precious metal rises on growing expectations of a US Federal Reserve (Fed) interest rate cut in the December policy meeting.
Gold price (XAU/USD) attracts some buyers to around $4,140 during the early Asian session on Tuesday. The precious metal rises on growing expectations of a US Federal Reserve (Fed) interest rate cut in the December policy meeting.
Ethereum Reclaims $3K Handle—Is a Breakout Imminent?Ethereum has jumped back above $3,000 and reclaimed key Fib levels, with a bullish trend line at $2,880 and strong MACD/RSI readings putting a breakout above $3,120–$3,165 — and a possible run toward $3,320–$3,350 — on the table, as long as support around $2,980–$2,920 holds.
Ethereum has jumped back above $3,000 and reclaimed key Fib levels, with a bullish trend line at $2,880 and strong MACD/RSI readings putting a breakout above $3,120–$3,165 — and a possible run toward $3,320–$3,350 — on the table, as long as support around $2,980–$2,920 holds.
Bitcoin holds steady above $90,000 as traders eye $100,000, buoyed by Thanksgiving market lull.
Gold (XAU/USD) attracts fresh buyers during the Asian session on Friday and climbs to a two-week high, with bulls now eyeing to reclaim the $4,200 mark amid dovish US Federal Reserve (Fed) expectations.
Silver remains steady near $54.00 after rejection at $54.40 area.
