EURUSD little changed after ECB's Lagarde and Stournaras comments

Today's speech from ECB President Lagarde and remarks from Stournaras failed to trigger major moves on the markets. Lagarde said inflation is expected to remain excessively high for an extended period of time. The future ECB moves are to depend on data. ECB forecasts are made more uncertain by market tensions. Wage pressures have strengthened on the back of robust labor markets. Without the tensions, policymakers would have indicated that additional hikes were required. ECB members are very confident that capital and liquidity positions of the euro area banks are well in excess of requirements.

ECB's Stournaras told CNBC that the European banking system is well-equipped with capital. When it comes to interest rates, ECB will no longer provide forward guidance and instead, meetings will be data-dependent from now on.

EURUSD saw very little reaction to these remarks. The most popular currency pair continues to trade above 1.0700 level, however only a decisive break above 1.0765 would be a hint that main sentiment shifts towards bullish.

EURUSD, D1 interval. Source: xStation5

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EURUSD little changed after ECB's Lagarde and Stournaras comments

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