The message that European Central Bank (ECB) officials sent from Sintra was one of patience.
The message that European Central Bank officials sent from Sintra was one of patience. There is clearly no pressure to move with back-to-back rate cuts given slower disinflation, and it seems that the preference is also for a wait-and-see approach over verbal intervention when it comes to the recent bond market turmoil, ING FX strategist Francesco Pesole. EUR/USD moves to 1.
” “Wehad argued for a move to 1.0800 on the back of softer US data this week, but admit that the move came in before our expectations given the shockingly low ISM services. We remain somewhat doubtful that markets will be comfortable with EUR/USD trading close to 1.09 given lingering uncertainty about French politics and the rising risk of a Trump re-election.
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