Germany - PMI data for December
- Services. Currently: 51 Forecast: 49.3 Previously: 49.3
- Industry. Currently: 42.5 Forecast: 43.1 Previously: 43
France - PMI data for December
- Services. Currently: 48.2 Forecast: 46.7 Previously: 46.9
- Industry. Currently: 41.9 Forecast: 43 Previously: 43.1
In addition to the PMI data itself, investors are discounting Lagarde's comments. The ECB president announced that the Bank is close to its inflation target, and if nothing extraordinary happens in the market, we can expect further interest rate cuts. The comments were clearly dovish, but with the full valuation of a 50bp cut in January, the market expected such a stance. For this reason, on EURUSD we are seeing a slight attempt to rebound from recent lows.
Source: xStation
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