ECB's Lane: Seeing significant wage increases in some countries
Source Fxstreet
European Central Bank (ECB) Chief Economist Phillip Lane noted on Monday that they are seeing significant wage increases in some Eurozone countries, per Reuters.
Key takeaways
"Cost pressures to be muted next year."
"We should not be too sensitive to monthly inflation data, need to differentiate between noise and signal."
"Inflation jumps we don't like, bumps we can deal with."
"We need to see domestic services inflation momentum come down."
Market reaction
These comments failed to trigger a noticeable reaction in EUR/USD. The pair was last seen trading virtually unchanged on the day at 1.0705.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The broader cryptocurrency market is down $2.45 trillion on Thursday, from $2.54 trillion the previous day, led by Bitcoin’s (BTC) decline below $73,000.
Bitcoin (BTC) edges below $73,000 at press time on Monday, extending its decline under the prevailing downside pressure from three consecutive weeks of losses.
Gold declines below $4,500 as Iran tensions stoke inflation fears and bolster Fed hike betsGold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.
Gold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.
West Texas Intermediate (WTI) gains ground for the third successive day, trading around $92.90 per barrel during the Asian hours on Wednesday.
Here is what you need to know on Wednesday, June 3:
