May 22ndBaccaratblackjackEuropean Central Bank President Christine Lagarde said on Tuesday that given consumer prices in the euro zoneBaccaratblackjackThe rapid rise is now basically contained, and it is possible to cut interest rates next month. Ms Lagarde said that if the data we received boosted our confidence that we would achieve 2 per cent inflation in the medium term, which is our goal, our mission and our responsibility, then the ECB is likely to take action on June 6. In her latest speech, Lagarde expressed optimism and confidence in the outlook for inflation. "I do believe that we have brought inflation under control. Our forecasts for next year and the year after next, even if they do not meet their goals, are very close to them. So I believe we have entered a stage that we can control. " The actions to be taken by ECB officials next time they make policy have been widely publicized. Deposit rates in the euro zone, which have been at a record high of 4 per cent since last autumn, are expected to be cut by 25 basis points, and investors expect the ECB to cut rates again in September, with the possibility of a final cut in 2024 in December.
Separately, Federal Reserve Governor Waller said on Tuesday that it would take a few more months of good inflation data to start cutting interest rates, although recent data suggest that the process of falling inflation may have resumed. He pointed out that higher-than-expected price pressures raised fears of stagnant progress in inflation in the three months to the start of the year, but the latest inflation data were "reassuring" and the Fed's policy rate was reasonably set. dispelled doubts that interest rates might need to rise again. Fed policymakers have become more cautious about the outlook for inflation and monetary policy in recent months, and Mr Waller, like many of his colleagues, did not reiterate in recent speeches that interest rates could be cut later this year. Waller said that in April, CPI slowed for the first time in six months, indicating that price pressure is not accelerating and is still moving towards its goal. He also pointed out that he saw some signs of a future economic slowdown, such as weak retail sales data this month and signs of a slowdown in the labor market. However, he added that recent price data showed that the Fed's 2 per cent inflation target had made only modest progress. "if I were still a professor and I had to rate this inflation report, I would give it to Clover, which is far from failing, but not the best."
The data that need to be watched today are the UK's April CPI annual rate, the UK April retail price index annual rate, the UK April non-quarterly PPI annual rate and the total annualized sales of existing homes in the United States in April.
Dollar index
The dollar index fluctuated yesterday and closed slightly higher on the daily line, which is now trading at 104.BaccaratblackjackAround .60. A spate of hawkish comments from Fed officials have further cooled expectations of Fed interest rate cuts, which is the main reason for the continued rise in the dollar index. In addition, risk aversion triggered by rising geopolitical tensions also continues to support the safe-haven dollar. Focus on 105 TodayBaccaratblackjackThe pressure near .00 is supported around 104.00 below.
EUR / USD
The euro fluctuated downwards yesterday, closing slightly lower on the daily line, and is now trading around 1.0860. In addition to the fact that the continued rise in the dollar index, supported by hawkish comments from Fed officials and risk aversion in the market, is the main reason for the weakening of the euro, the ECB president's comments that interest rate cuts began in June are also an important factor in the pressure on the euro to weaken. In addition, the weak economic data of the euro zone over the period of time also weighed on the exchange rate. Today, we will focus on the pressure situation near 1.0950, with the lower support around 1.0750.
Sterling / dollar
The pound fluctuated yesterday and closed slightly higher on the daily line, which is now trading around 1.2720. In addition to the technical buying formed near the 1.2700 gate to a certain extent, the recent economic data released by the UK show that the British economy has come out of recession is the main reason to support the continued rise in the exchange rate. However, the weak economic data of the UK and the rise of the dollar index supported by multiple positive factors limited the room for rise in the exchange rate. Today, we will focus on the pressure situation near 1.2800, with the lower support around 1.2650.