- Analytics
- News and Tools
- Market News
- EUR/USD: Eurozone inflation data unlikely to lift the shared currency – Commerzbank
EUR/USD: Eurozone inflation data unlikely to lift the shared currency – Commerzbank
EUR/USD has fallen over the past few days. In the view of economist at Commerzbank, inflation data from the eurozone is unlikely to change the Euopean Central Bank’s (ECB’s) cautious course, therefore, the pair is set to stay under pressure.
Difficult for EUR to appreciate significantly against USD for now
“Today’s inflation data from the eurozone is unlikely to provide any new momentum. Some inflation data from individual countries has already been published, and it looks as if the rate of inflation in the eurozone might have crept up further in June.”
“Even an upside surprise is not likely to cause the ECB to implement a larger rate step in July. The majority on the monetary policy council seems to prefer a cautious start, which today’s data is unlikely to change.”
“Medium-term, we assume that USD will ease against EUR as, contrary to the eurozone, we are projecting a recession for the US next year, which is likely to cause the Fed to implement rate cuts.
“At present, however, the market is also likely to see recession risks for the eurozone (energy crisis). And as the ECB is significantly lagging behind the other central banks it is likely remain difficult for EUR to appreciate significantly against USD for now.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
