ECB's Hansson: we feel more confident that Euro-zone inflation will reach desired levels

Haresh Menghani FXStreet

European Central Bank (ECB's) Governing Council member Ardo Hansson is out on the wires now noting that there is scope for some prudent recalibration of ECB policies, due to stronger economy.

Additional headlines:

• Output gap in Euro-zone should be closing relatively quickly.
• Short-term economic risks are to upside
• Don't see robust pick-ip in inflation but it is rising due to monetary policy measures
• We feel more and more confident that Euro-zone inflation will reach desired levels
• Can't make stance of policy just dependent on asset purchases, we are not looking only at that

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD remains bid near 1.1650 post-US ADP

Finally some respite for the risk complex see EUR/USD partially recover from the recent steep sell-off, this time hovering around the 1.1650 zone amid decent gains in a context of renewed selling pressure on the US Dollar. However, the duration and extension of this bounce should be put to the test amid the unabated tensions in the Middle East.

GBP/USD meets resistance around 1.3400

In line with its risk-linked peers, GBP/USD stages a modest comeback on Wednesday, although meeting some resistance around the 1.3400 neighbourhood. Cable’s humble recovery comes on the back of the fresh downward bias in the Greenback amid a marginal improvement in the global sentiment and steady geopolitical effervescence.

Gold flirts with $5,200 amid safe haven demand

Gold partially fades Tuesday’s sharp pullback, regaining the $5,200 mark per troy ounce on the back of the resurgence of investors’ demand for the safe-haven space. The precious metal remains well propped up by the deterioration of the geopolitical scenario in the Middle East, while the softer tone in the US Dollar collaborates with the uptick.