Open Live Account Open Demo Account

The euro fell slightly, with the follow-up to the European Central Bank forum

The euro fell slightly against most of the major currencies during trading on Wednesday, in light of the anticipation of the banking forum to be held by the European Central Bank.

Today, global markets are turning their attention to Portugal, where the European Central Bank will hold a forum on monetary policies and banking plans of major central banks, and the sessions of the forum will be attended by the heads of the Federal Reserve, "Jerome Powell" and the Bank of England, "Andrew Bailey" in addition to the President of the European Central, "Christine Lagarde".

Yesterday, Lagarde stated that the ECB is ready to raise interest rates at a faster pace if inflationary pressures continue to rise.

US Federal Reserve officials also mentioned that the central bank may move towards raising interest rates by 75 basis points at its next meeting.

Fed member "John Williams" stated that the US economy can avoid falling into a recession.

Later today, economic data will be released in the euro zone, most notably the consumer price inflation index in Germany and Spain, in addition to the money supply data in the euro zone.

In terms of trading, the euro fell against the US dollar at 5:14 GMT, by 0.1% to 1.0511.


2022-06-29 06:12:28