EU Economy Commissioner Gentiloni: EU inflation connected to energy prices – BBG TV

Anil Panchal FXStreet

“EU inflation connected to energy prices,” Said European Union (EU) Economics Affairs Commissioner Paolo Gentiloni during the Bloomberg (BBG) TV appearance.

Additional comments

We must avoid fiscal and monetary policy competing.

Monetary policy tightening is unavoidable.

US inflation is not yet on a downward path.

Elsewhere, global rating giant Moody’s also stated that higher energy costs and slowing growth elevate social, as well as fiscal, risk across Europe.

Market reaction

The news seems to help the EUR/USD bulls take a breather after rising the most in over a week. That said, the major currency pair was last seen retreating to 0.9770.

Also read: EUR/USD Price Analysis: Oscillates around the 20-day EMA eyeing Friday’s US economic data

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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