Forex
Investing.com - The U.S. dollar traded largely unchanged in early European trade Friday as traders awaited the release of key U.S. employment data, while the euro steadied after the European Central Bank’s historic rate cut.
At 05:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded flat at 104.060.
Dollar awaits monthly jobs reportThe dollar has been on the back foot this week, with the index down 0.5% this... (continue reading...)
Investing.com - The European Central Bank announced its first rate reduction since 2019 on Thursday, but gave few hints of further moves, widely seen as a “hawkish cut”.
The European Central Bank lowered its key rate by 25 basis points from a record high to 3.75%, its first cut in five years. However, it raised its inflation forecasts and President Christine Lagarde declined at a press conference to confirm it had entered a phase of 'dialling back' its restrictive... (continue reading...)
By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) -The U.S. dollar rebounded on Friday after data showed the world's largest economy created a lot more jobs than expected last month, suggesting that the Federal Reserve could take time in starting its easing cycle this year.
The dollar index, which tracks the currency's value against six major peers led by the euro, rose 0.8% to 104.91, its best daily gain since April 10.
For the... (continue reading...)
FRANKFURT, June 6 (Reuters) - The European Central Bank cut borrowing costs from record highs on Thursday, acknowledging progress in its battle against high inflation but also signalling that fight had yet to be won as inflation was set to remain too high until next year.
Following are highlights of ECB President Christine Lagarde's comments at a news conference after the policy meeting.
ONE COUNCIL MEMBER OPPOSED RATE DECISION
... (continue reading...)FRANKFURT (Reuters) - The European Central Bank raised some of its economic growth and inflation projections on Thursday, predicting a somewhat later return of price growth to its 2% target.
Having tamed runaway inflation with a record string of rate hikes, the ECB cut interest rates for the first time since 2019 on Thursday, with further easing expected as the economy normalizes from a series of shocks related to the pandemic and Russia's war in... (continue reading...)
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