ECB's Stournaras: The rate cutting is nearly done
European Central Bank (ECB) policymaker Yannis Stournaras said on Friday, “the rate cutting is nearly done.”
Additional takeaways
ECB has achieved a soft landing.
The best thing for the ECB is to wait and see.
Given uncertainty, you can never say it is done.
ECB may cut if the economy weakens and inflation falls.
There are downside risks to growth.
The ECB is quite confident on forecasts.
Market reaction
At the press time, EUR/USD is down 0.15% on the day to 1.1425.
Euro PRICE This week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.69% | -0.61% | 0.00% | -0.55% | -1.02% | -1.29% | -0.32% | |
| EUR | 0.69% | 0.06% | 0.71% | 0.13% | -0.33% | -0.64% | 0.36% | |
| GBP | 0.61% | -0.06% | 0.66% | 0.07% | -0.39% | -0.70% | 0.29% | |
| JPY | 0.00% | -0.71% | -0.66% | -0.55% | -1.02% | -1.31% | -0.41% | |
| CAD | 0.55% | -0.13% | -0.07% | 0.55% | -0.47% | -0.77% | 0.23% | |
| AUD | 1.02% | 0.33% | 0.39% | 1.02% | 0.47% | -0.25% | 0.77% | |
| NZD | 1.29% | 0.64% | 0.70% | 1.31% | 0.77% | 0.25% | 1.00% | |
| CHF | 0.32% | -0.36% | -0.29% | 0.41% | -0.23% | -0.77% | -1.00% |
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
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.
