ECB’s De Guindos: Euro area has bottomed out

Dhwani Mehta FXStreet

The European Central Bank (ECB) Vice President Luis De Guindos crossed the wires last minutes, via Reuters, noting that slowdown in the Euro area has bottomed out as disorderly Brexit, trade wars between China and US have not materialized.

He called for structural reforms and fiscal policy in Europe to take over from monetary policy to tackle global challenges like Brexit.

Additional Quotes:

There are signs of economic stabilization.

ECB still has room to act with QE, rate cuts if needed.

EUR/USD has ticked a few pips higher after a brief consolidative stint around the 1.1160 region, still about 30-pips below the four-month tops of 1.1200.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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