OANDA Senior Market Analyst Craig Erlam discusses EURUSD in the aftermath of the ECB monetary policy decision and press conference.
09-06-2022 18:44 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.
US stocks declined as global bond yields rose after the ECB prepared markets for a rate hiking cycle and on growing nervousness that tomorrow’s CPI data will clearly show inflation isn’t near peaking.
The outlook is darkening and that might be how the argument for the Fed to pause in September begins.
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