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EBC Daily Snapshot Mar 8, 2024

EBC Forex Snapshot 8 Mar 2024 The dollar headed for its sharpest weekly drop of the year on Friday as Fed Chair Jerome Powell sounded more confident about cutting interest rates in coming months. The euro hit an almost two-month high. The ECB left its benchmark rate steady at 4% as expected and laid groundwork for a cut in June by downward revisions to its revisions to growth and inflation outlook. Eurozone inflation eased to 2.6% in February, but the figure was higher than expected by economist. Rate-setters may worry that rapid wage growth is still pushing up prices in the labour-intensive services sector. EBC Financial Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment, or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Financial Group or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person.

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Publication date:

2024-03-08 11:05:30 (GMT)

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