EURUSD returns above 1.148 following comments by ECB President Christine Lagarde: “We don’t see a recession in the Euro area.”
Key points from Christine Lagarde’s latest remarks to CNBC:
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The disinflation process is on the right track, and the 2% target is expected to be reached in 2025.
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ECB decisions will be “extremely data-dependent,” regardless of whether rate cuts continue or pause.
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Tariffs have a negative impact on economic growth, while their effect on inflation remains an open question.
Lagarde described the recent euro appreciation as “counterintuitive,” considering the dovish stance of Eurozone monetary policy versus the hawkish stance in the U.S. Nonetheless, her positive comments on the Eurozone economy helped the currency halt today’s decline, especially in contrast to widespread downward revisions of global growth forecasts.
The euro's strength, however, is not reflected in the sentiment of the European equity market (Stoxx 600: -0.25%).
Source: xStation5
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