Daily digest market movers: EUR/USD remains under pressure due to multiple headwinds ...từ ia7145

08 Oct 2024, 20:51 · Lượt xem 52

EUR/USD remains vulnerable near 1.0950 in European trading hours. Apart from the upbeat US Dollar, uncertainty over the Euro’s (EUR) outlook has also kept the pair on the backseat. The Euro’s outlook has become uncertain amid increasing speculation that the European Central Bank (ECB) could cut interest rates again in its monetary policy meeting on October 17.
Large dovish ECB bets for October have been prompted by growing risks that inflation in the Eurozone could stabilize below the bank’s target of 2%. Annual Eurozone Harmonized Index of Consumer Prices (HICP) decelerated at a faster-than-expected pace to 1.8% in September, according to flash estimates.
The economic outlook of Germany, the Eurozone’s largest economy, is weak due to soft demand. The German economy is forecasted to have shrunk by 0.2% annually for the current year by the ministry, led by Robert Habeck of the Green party, newspaper Sueddeutsche Zeitung reported on Sunday.
Meanwhile, ECB policymaker and French Central Bank Chief François Villeroy de Galhau also emphasized the need to cut interest rates again this month, told to La Repubblica over the weekend. Villeroy said, "In the last two years our main risk was to overshoot our 2% target." "Now we must also pay attention to the opposite risk, of undershooting our objective due to weak growth and a restrictive monetary policy for too long," he added.
On the economic data front, Eurozone Retail Sales expanded but missed expectations in August. Annually, Retail Sales rose by 0.8% after contracting by 0.1% in July. Economists expected Retail Sales to have grown by 1%. Month-on-month Retail Sales rose expectedly by 0.2%.

Tuyên bố miễn trừ trách nhiệm: Nội dung trên chỉ đại diện cho quan điểm của tác giả hoặc khách mời. Nó không đại diện cho quan điểm hoặc lập trường của FOLLOWME và không có nghĩa là FOLLOWME đồng ý với tuyên bố hoặc mô tả của họ, cũng không cấu thành bất kỳ lời khuyên đầu tư nào. Đối với tất cả các hành động do khách truy cập thực hiện dựa trên thông tin do cộng đồng FOLLOWME cung cấp, cộng đồng không chịu bất kỳ hình thức trách nhiệm nào trừ khi có cam kết rõ ràng bằng văn bản.

Website Cộng đồng Giao Dịch FOLLOWME: www.followme.asia

Ủng hộ nếu bạn thích