OANDA Senior Market Analyst Craig Erlam discusses EURGBP amid the ECB decision to hike more than expected at the beginning of its tightening cycle.
21-07-2022 16:07 GMT
by Craig Erlam
European Central Bank (ECB) news
The European Central Bank (ECB) is the central bank for the Eurozone, responsible for monetary policy. Its primary objective is to maintain price stability within the 20 member states using the euro. The ECB uses various monetary policy tools to guide the Eurozone economy and support sustainable growth.
Wall Street is struggling to find reasons to be optimistic as investors digest a wrath of mixed corporate earnings, Russia resumes Nord Stream 1 gas flows, and the ECB acts aggressively with its first rate hike in 11 years. The earnings standout was Tesla, which posted strong earnings and kept its production forecast.
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