The EUR/JPY pair struggles to defend the auction above the psychological support of 150.00 in the European session. The cross is expected to remain on the tenterhooks as investors are awaiting the speech from European Central Bank (ECB) President Christine Lagarde before the European Parliament.
ECB Lagarde is expected to guide the likely monetary policy action in June’s monetary policy meeting. The street is convinced that the ECB will hike interest rates further despite the sheer softening of Eurozone inflation.
An in-depth investigation of the Eurozone’s May inflation report showed that headline price pressures slowed dramatically amid declining energy and food inflation, while core inflation is still stubborn. Sticky core inflation strengthens the case for more interest rate hikes by the ECB. Also, ECB policymaker, Boštjan Vasle, said on Friday, “More rate hikes needed to get inflation to the 2% target.” He further added, “Core inflation remains high and persistent.”
In addition to ECB Vasle, ECB Governing Council member Gabriel Makhlouf, said that they are “likely to see another rate increase at the next meeting.“ He added that a fall in Eurozone inflation is welcomed but is not definitive with underlying solid pressures. We will likely see another rate increase at the next meeting as the ECB has not reached the moment where it can say let’s now stop.
Meanwhile, the Japanese Yen is trying to get the upper hand as the Bank of Japan (BoJ) is expected to intervene to provide some cushion to the domestic currency. According to the latest Reuters report, bets against the Japanese Yen had risen to $8.6 billion equivalent, a similar level when Japan’s authorities intervened last year.
Japan’s Q1 Gross Domestic Product (GDP) will remain in the spotlight. Thursday’s GDP data is expected to expand by 0.5% vs. prior expansion of 0.4% quarterly. Annualized Q1 GDP is seen steady at 1.6%.
This Post Has 20 Comments
canadian pharmacy victoza: certified canadian pharmacy – cross border pharmacy canada
top online pharmacy india: reputable indian pharmacies – Online medicine order
prednisone 20mg price in india: order prednisone from canada – how much is prednisone 5mg
cheap ventolin uk: buy albuterol inhaler – buy cheap ventolin online
ventolin hfa price: Ventolin inhaler price – ventolin 10 mg
semaglutide: Semaglutide pharmacy price – rybelsus price
Farmacie online sicure: Cialis generico controindicazioni – farmacia online senza ricetta
farmacie online autorizzate elenco: farmacia online migliore – п»їFarmacia online migliore
Farmacia online piГ№ conveniente: Farmacie online sicure – farmacia online senza ricetta
comprare farmaci online con ricetta: Cialis generico 5 mg prezzo – farmacia online senza ricetta
comprare farmaci online all’estero: Cialis generico 5 mg prezzo – farmacie online affidabili
viagra 100 mg prezzo in farmacia: viagra senza prescrizione – farmacia senza ricetta recensioni
viagra online spedizione gratuita: viagra senza prescrizione – viagra consegna in 24 ore pagamento alla consegna
viagra generico sandoz: viagra senza prescrizione – viagra originale in 24 ore contrassegno
farmacia online barata y fiable: Cialis sin receta – farmacias online seguras
comprar sildenafilo cinfa 100 mg espaГ±a: viagra precio – comprar sildenafilo cinfa 100 mg espaГ±a
farmacias online seguras en espaГ±a: cialis 20 mg precio farmacia – farmacia online envГo gratis
farmacias direct: Precio Cialis 20 Mg – farmacia online envГo gratis
casibom giris adresi: casibom guncel giris adresi – casibom guncel giris
casibom guncel giris
Very interesting topic, thanks for posting.Expand blog