- EURUSD held steady during Lagarde's speach
- Eurozone inflation consistent with mid-term 2% target
- Growth risks include weak exports and stronger euro
- EURUSD held steady during Lagarde's speach
- Eurozone inflation consistent with mid-term 2% target
- Growth risks include weak exports and stronger euro
EURUSD held steady during Christine Lagarde’s speech at the European Parliament, staying just a few pips below the key resistance level near 1.172. The world’s most traded currency pair is currently down 0.1%.
Lagarde largely reiterated the ECB’s official stance on monetary policy, emphasizing that the disinflation phase in the Eurozone has ended and inflation is now aligned with the medium-term 2% target. She noted that the labor market remains a key source of strength for the EU economy, while moderating wage growth helps limit inflation risks. Lagarde added that growth risks should ease next year, though slowing exports and a stronger euro may continue to weigh on the region’s outlook.
Lagarde’s remarks on economic growth seem to be on an optimistic note, given the mixed outlook painted by the most recent PMI report for the EU economies, as well as major fiscal and political struggles weighing on growth prospects in France or Germany.
Source: xStation5
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