ECB’s Rehn: Economic rebound weaker than expected
|European Central Bank (ECB) Governing Council member Olli Rehn was on the wires in the last hour, via Reuters, expressing his take on the euro area economic recovery and the inflation outlook.
Key quotes
“Disappointing recent data, particularly in services, amplify downside risks.”
“Economic rebound weaker than expected.”
“Shape of recovery looks like 'truncated square root'.”
“Inflation risks are on the downside.”
EUR/USD defends 1.1700
Following a U-turn from daily highs of 1.1721, EUR/USD trades modestly flat at 1.1710, weighed down by rising coronavirus cases in Europe and dismal macro data.
Eurozone final annualized CPI reading confirmed deflation in September. Focus shifts to the US Retail Sales and Consumer Sentiment data.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.