ECB's Simkus says EUR/USD level does not imply any policy direction; the current ECB stance fits the current situation very well
Simkus’ comments suggest that the current EUR/USD level does not signal a shift in ECB policy, which may lead traders to interpret that existing monetary policy is suitable given the prevailing inflation and growth metrics.
Bank of Canada holds rates at 2.25%, as expected; uncertainty is heightened and are monitoring risks closely, and if the outlook changes, prepared to respond
BoC Governor Macklem's Opening Statement: forecast for economic growth and inflation in Canada has not changed significantly since our October projection; "current policy rate is appropriate based on our outlook"
ECB's Simkus says EUR/USD level does not imply any policy direction; the current ECB stance fits the current situation very well
[MARKET UPDATE] ASML (+0.6%) briefly slipped into the red, though is trading slightly positive now, adding some pressure to the AEX (+0.1%)
US President Trump posts "The S&P 500 just hit 7000 for the FIRST TIME EVER. AMERICA IS BACK!!!"
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- Inflation is at target and growth is better, which makes "near-term decisions rather clear".
- Need to be agile, stick to a meeting-by-meeting and data-dependent approach.
His insistence on a data-dependent, agile approach indicates that the ECB is prepared for potential adjustments based on economic developments, but for now, they see no cause for immediate changes. This could contribute to stabilizing expectations around the euro and influence cross-asset flows, particularly in fixed income and FX markets.
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