|

ECB’s Escriva sees energy inflation passing through to other sectors

European Central Bank (ECB) policymaker José Luis Escrivá said on Thursday that higher energy costs are spreading to services and transport, while warning that the inflation outlook remains highly uncertain for the European Union (EU) at a speech in Barcelona.

Key takeaways:

Energy costs are spreading to services and transport.

The baseline scenario is subject to considerable uncertainty.

It is unclear how long the recovery of oil production will take.

There is uncertainty about oil prices and inflation transmission.

There is uncertainty about second-round effects regarding wages.

Second-round effects on wages have yet to materialize.”

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.

USDEURGBPJPYCADAUDNZDCHF
USD0.33%0.62%0.47%0.27%-0.06%0.27%0.65%
EUR-0.33%0.31%0.15%-0.07%-0.38%-0.11%0.32%
GBP-0.62%-0.31%-0.19%-0.37%-0.68%-0.39%0.00%
JPY-0.47%-0.15%0.19%-0.18%-0.53%-0.25%0.16%
CAD-0.27%0.07%0.37%0.18%-0.35%-0.06%0.36%
AUD0.06%0.38%0.68%0.53%0.35%0.29%0.70%
NZD-0.27%0.11%0.39%0.25%0.06%-0.29%0.42%
CHF-0.65%-0.32%-0.00%-0.16%-0.36%-0.70%-0.42%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Agustin Wazne

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

More from Agustin Wazne
Share:

Editor's Picks

Japanese Yen weakens to two-year lows, targets 162.00

USD/JPY extends its advance well north of the 161.00 barrier on Thursday, always on the back of the continuation of the US Dollar's post-Fed rebound and despite warnings from the BoJ of a potential intervention at any time. Next on the upside for spot comes the July 2024 peak in levels just shy of 162.00 the figure.

Australian Dollar remains in positive territory after paring recent gains

AUD/USD pares its daily gains, remaining in the positive territory and trading around 0.7010 during the European hours. The pair appreciated as the Australian Dollar received support from prevailing hawkish sentiment surrounding the Reserve Bank of Australia’s policy outlook.

Gold drops to daily lows near $4,200

Gold struggles to attract buyers on Thursday, trading closer to the $4,200 mark per troy ounce. The yellow metal adds to Wednesday’s pullback and slips back to multi-day lows in response to the stronger US Dollar following the Fed’s hawkish hold on Wednesday.

Crypto Today: Bitcoin, Ethereum and XRP pare losses on increasing bets of Fed tighter monetary policy

Cryptocurrency prices are broadly moderating downwards on Thursday, as market participants assess the impact of the Federal Reserve’s (Fed) hawkish monetary policy stance.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.

The next big AI trade may not be about chips or software

Artificial intelligence has already created some of the biggest winners in modern market history. Chipmakers have surged, data centre construction is booming, and electricity demand forecasts are changing globally.