Live Coverage: ECB set to cut rates, may convey dovish message and shake EUR/USD
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UPGRADEThe ECB is set to cut rates for the second time in this cycle, but uncertainty looms about future moves as the global economy slows. Live coverage of the critical September 2024 ECB decision.
Join FXStreet Premium to participate in the live coverage, get Gold alerts, access the analysts, and lots more.
ECB doves may come out as inflation hits target, Germany slows
Volkswagen is considering closing factories in its home country of Germany for the first time in its history. The Federal Reserve is about to kick off a consistent cutting cycle. And most importantly, the eurozone's inflation rate has fallen to 2%, the European Central Bank's target.
All these are good reasons for the Frankfurt-based institution to cut rates by 25 bps, a move widely telegraphed. These factors may also push ECB President Christine Lagarde to opt for a dovish message of further rate cuts.
EUR/USD is set to rock in response to the decision, the press conference, and the ECB's new forecasts for growth and inflation. Apart from the world's No. 1 currency pair, other assets such as the DAX, eurozone bonds and even Gold.
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(This story was corrected on June 6 at 07:45 GMT to say that the European Central Bank is set to cut interest rates for the first time since 2019, not 2020.)
The ECB is set to cut rates for the second time in this cycle, but uncertainty looms about future moves as the global economy slows. Live coverage of the critical September 2024 ECB decision.
Join FXStreet Premium to participate in the live coverage, get Gold alerts, access the analysts, and lots more.
ECB doves may come out as inflation hits target, Germany slows
Volkswagen is considering closing factories in its home country of Germany for the first time in its history. The Federal Reserve is about to kick off a consistent cutting cycle. And most importantly, the eurozone's inflation rate has fallen to 2%, the European Central Bank's target.
All these are good reasons for the Frankfurt-based institution to cut rates by 25 bps, a move widely telegraphed. These factors may also push ECB President Christine Lagarde to opt for a dovish message of further rate cuts.
EUR/USD is set to rock in response to the decision, the press conference, and the ECB's new forecasts for growth and inflation. Apart from the world's No. 1 currency pair, other assets such as the DAX, eurozone bonds and even Gold.
Live financial market coverage
FXStreet covers major economic releases in a live blog format, to provide readers an instant verdict of the data, rapid analysis of key assets, and for Premium members, the abilty to ask our experts questions in real time.
FXStreet Premium
FXStreet Premium provides subscribers access to analysts, exclusive actionable analysis, signals, Ed Ponsi's webinars, trade plans and a bullish/bearish indicator for Gold on critical events. Join FXStreet Premium here.
(This story was corrected on June 6 at 07:45 GMT to say that the European Central Bank is set to cut interest rates for the first time since 2019, not 2020.)
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