OctaFX | OctaFX Forex Broker
Open trading account

ECB Meeting Accounts: Data point to positive but modest growth ahead

The latest data point to a positive but modest growth ahead and the European Central Bank needs more data to see if tentative signs of stabilisation provide a firmer ground for optimism, the accounts of the ECB's January policy meeting showed on Thursday.

The EUR/USD pair largely ignored the ECB's remarks and was last seen trading at 1.0790, down 0.13% on the day.

Key takeaways

"Manufacturing may be bottoming out but not clear if services slowdown is over."

"Nowcasting model suggests growth stabilizing below potential."

"Encouraged by a continued gradual upward trend in some core inflation indicators."

"Important to acknowledge positive signs without being too optimistic."

"Concern was expressed about rising stock prices not reflecting improved earnings."

"A remark was made that higher house prices could create financial risks and local macroprudential tools may be insufficient."

EUR/NOK: Recent spike is overdone – Danske Bank

Slowing growth and investor bias toward US assets represent headwinds for the NOK. Near-term, the recent spike in EUR/NOK looks overdone, opening up f
Read more Previous

Gold jumps to the highest level since February 2013, around $1620 area

Gold reversed an early dip to the $1604 area and jumped to fresh multi-year tops during the mid-European session on Thursday. The precious metal added
Read more Next
Start livechat