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
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, regains positive traction on Tuesday and climbs back above the mid-99.00s during the first half of the European session.
West Texas Intermediate (WTI) oil price gains ground for the second successive day, trading around $85.60 per barrel during the Asian hours on Tuesday.
The US and Iran exchanged direct fire again after more than a month, rapidly escalating shipping risks in the Strait of Hormuz and pushing international oil prices back above $90 a barrel
As of the Asian session on August 31, gold prices today (XAUUSD) extended last Friday's decline, briefly falling below $4,400 during intraday trading to hit a low of $4,396.36. Last Frida
Today’s Market Recap: Escalating US-Iran Conflict Pushes Oil Past $90, Warsh's Hawkish Remarks Boost Fed Rate-Hike Expectations, August Nonfarm Payrolls in Focus This WeekTracking Market TrendsTradingKey - On August 28, Eastern Time, the three major U.S. stock indexes closed lower across the board. Remarks by Federal Reserve Chairman Warsh at the Jackson Hole symposium
Tracking Market TrendsTradingKey - On August 28, Eastern Time, the three major U.S. stock indexes closed lower across the board. Remarks by Federal Reserve Chairman Warsh at the Jackson Hole symposium
