Forex News

09:57:15 29-02-2024

EUR/USD to come under some pressure after US PCE figures ING

EUR/USD remains trading around the 1.0850 mark. Economists at ING analyze the pairs outlook.

CPI figures should not change the ECB narrative

French and German CPI numbers may not lead to much change in ECB communication.

We dont expect todays regional figures or Fridays Eurozone-wide flash CPI estimate to justify a change in the ECBs narrative at next weeks policy meeting.

The recent speech by ECB President Christine Lagarde at the EU Parliament confirmed that the ECB is still looking for more conclusive evidence before acting on sanguine disinflation expectations. That likely includes waiting for wage data for the first quarter, and we suspect the likelihood of a rate cut before the June meeting is low.

We expect some pressure on EUR/USD after US PCE figures today.

 

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