Lagarde speech: Growth will be weaker in short term
Source Fxstreet
While testifying before the European Parliament's Committee on Economic and Monetary Affairs on Wednesday, European Central Bank (ECB) President Christine Lagarde said that the economic growth in the Eurozone will be weaker in the near term, per Reuters.
Key takeaways
"Further ahead, the Euro area’s economic recovery should start to gather some steam."
"The medium-term economic outlook is uncertain."
"Inflation is expected to temporarily increase in the fourth quarter of this year."
"Inflation to decline to target in the course of next year."
"We are therefore not pre-committing to a particular rate path."
Market reaction
EUR/USD edges slightly lower following these comments and was last seen losing 0.18% on the day at 1.0490.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitwise's Matt Hougan Predicts a Crypto Boom in 2026 Amid Current Market Struggles
Bitcoin and Ethereum are diverging significantly in their monetary roles, according to a joint report from Glassnode and Keyrock.
Ethereum slides 5% as bears lean on $3,500 cap and put $3,150 support in focusEthereum (ETH) drops more than 5% after a failed push above $3,550, with price sliding to $3,153 and now holding below $3,350, the 100-hour SMA and a bearish trend line at $3,500; unless bulls reclaim the $3,350–$3,500 zone, the short-term bias stays bearish and a clean break under $3,150 could expose $3,050, $3,000 and even the $2,880–$2,850 support area.
Ethereum (ETH) drops more than 5% after a failed push above $3,550, with price sliding to $3,153 and now holding below $3,350, the 100-hour SMA and a bearish trend line at $3,500; unless bulls reclaim the $3,350–$3,500 zone, the short-term bias stays bearish and a clean break under $3,150 could expose $3,050, $3,000 and even the $2,880–$2,850 support area.
Gold climbed higher on Friday, marking its strongest weekly performance in a month, as traders weighed the impact of a data backlog following the end of the US government's extended shutdown. Silver also moved upward.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trade in red on Friday after correcting more than 5%, 10% and 2%, respectively, so far this week.
