{"id":7832,"date":"2024-04-11T21:01:23","date_gmt":"2024-04-11T18:01:23","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=7832"},"modified":"2024-04-11T21:01:23","modified_gmt":"2024-04-11T18:01:23","slug":"euro-remains-vulnerable-after-ecb-keeps-rates-steady","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=7832","title":{"rendered":"Euro remains vulnerable after ECB keeps rates steady"},"content":{"rendered":"

<\/p>\n

The EURUSD pair fell further to 1.0720 Thursday after the European Central Bank decided to hold its Main Refinancing Operations Rate steady at 4.5%. The ECB was widely anticipated to keep its borrowing rates higher to maintain downward pressure on the consumer price inflation.<\/p>\n

In the monetary policy statement, the ECB commented that restrictive financial conditions and interest rate hikes yet made are weighing on overall demand and pushing downward pressure on inflation. The ECB denied committing to any particular rate path and said it would remain data-dependent to determine how long interest rates need to remain restrictive.<\/p>\n

In the press conference, ECB President Christine Lagarde warned that the economy is weak and risks to growth have tilted to the downside.<\/p>\n

Lagarde added that labour market conditions are continuously easing, and demand for the manufacturing sector is weak. She is confident that inflation will decline to target next year, which is 2%.<\/p>\n

The ECB chief didn\u2019t provide a timeframe\u00a0on when the central bank will\u00a0start reducing interest rates.<\/p>\n

Strong dollar<\/strong><\/h4>\n

The strong US Dollar is also driving the weakness in the major currency pair.<\/p>\n

The Dollar Index (DXY), which tracks the greenback\u2019s value against six major currencies, hovers near more than a four-month high of around 105.20.<\/p>\n

The appeal for the US Dollar has strengthened as traders push back market expectations for Federal Reserve rate cuts.<\/p>\n

The Fed is expected to keep interest rates in the range of 5.25-5.50% at least till the September meeting, as the United States consumer price inflation for March turned out stronger than expected.<\/p>\n

Meanwhile, the US Bureau of Labor Statistics (BLS) has reported hot annual core Producer Price Index (PPI) data for March. US core PPI grew strongly by 2.4%, from estimates of 2.3% and the prior reading of 2.0%.<\/p>\n

(Source: OANDA)<\/p>\n","protected":false},"excerpt":{"rendered":"

The European Central Bank (ECB) decided to hold its Main Refinancing Operations Rate steady at 4.5% to maintain downward pressure on consumer price inflation. ECB President Christine Lagarde warned of a weak economy with risks to growth tilted to the downside. The strong US Dollar is also contributing to the weakness in the EURUSD pair. The Dollar Index (DXY) is near a four-month high, and market expectations for Federal Reserve rate cuts have been pushed back due to strong US consumer price inflation and core Producer Price Index data.<\/p>\n","protected":false},"author":4,"featured_media":7833,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1972,1902,4601,598,5732,2542,1041,3832,2369,2190,4893,260,2620,2403,2621,50,534,26,599,51,600,2624,4818,372,52,3767,67,899,374,1401,4484,839,1821,185,4078,54,34,1346,55,4833,4843,3775,5838,1990,375,1827,3814,544,380,1124,18],"class_list":["post-7832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-appeal","tag-bank","tag-central-bank","tag-christine-lagarde","tag-conditions","tag-conference","tag-consumer-price-index-cpi","tag-currency","tag-data","tag-decline","tag-demand","tag-dollar","tag-dollar-index","tag-driving","tag-dxy","tag-ecb","tag-ecb-rate-cut","tag-economy","tag-euro","tag-european-central-bank","tag-eurusd","tag-eurusd-pair","tag-expectations","tag-fed-rates","tag-federal-reserve","tag-growth","tag-inflation","tag-interest","tag-interest-rate","tag-interest-rates","tag-labor","tag-labour","tag-labour-market","tag-main","tag-manufacturing-sector","tag-marketpulse","tag-markets","tag-meeting","tag-oanda","tag-policy","tag-president","tag-pressure","tag-price","tag-producer-price-index","tag-rate-cut","tag-statement","tag-statistics","tag-united-states","tag-us","tag-us-dollar","tag-world"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\nEuro remains vulnerable after ECB keeps rates steady<\/title>\n<meta name=\"description\" content=\"ECB monetary policy. ECB, interest rates, inflation\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Euro remains vulnerable after ECB keeps rates steady\" \/>\n<meta property=\"og:description\" content=\"ECB monetary policy. ECB, interest rates, inflation\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ch.jfdi.cc\/?p=7832\" \/>\n<meta property=\"og:site_name\" content=\"ch.jfdi.cc\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-11T18:01:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/euro-remains-vulnerable-after-ecb-keeps-rates-steady.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"794\" \/>\n\t<meta property=\"og:image:height\" content=\"529\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Financial Mirror\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Financial Mirror\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832\"},\"author\":{\"name\":\"Financial Mirror\",\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/#\\\/schema\\\/person\\\/ea7c7b31097372a2410ae03401fba715\"},\"headline\":\"Euro remains vulnerable after ECB keeps rates steady\",\"datePublished\":\"2024-04-11T18:01:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832\"},\"wordCount\":302,\"image\":{\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ch.jfdi.cc\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/euro-remains-vulnerable-after-ecb-keeps-rates-steady.jpg\",\"keywords\":[\"appeal\",\"bank\",\"central bank\",\"Christine Lagarde\",\"conditions\",\"conference\",\"consumer price index CPI\",\"currency\",\"data\",\"decline\",\"demand\",\"Dollar\",\"Dollar Index\",\"driving\",\"DXY\",\"ECB\",\"ECB rate cut\",\"Economy\",\"euro\",\"European Central Bank\",\"EURUSD\",\"EURUSD pair\",\"expectations\",\"Fed rates\",\"Federal Reserve\",\"growth\",\"inflation\",\"interest\",\"interest rate\",\"interest rates\",\"labor\",\"Labour\",\"labour market\",\"Main\",\"manufacturing sector\",\"MarketPulse\",\"Markets\",\"meeting\",\"OANDA\",\"policy\",\"president\",\"pressure\",\"price\",\"Producer Price Index\",\"rate cut\",\"statement\",\"statistics\",\"United States\",\"US\",\"US dollar\",\"World\"],\"articleSection\":[\"Other\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832\",\"url\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832\",\"name\":\"Euro remains vulnerable after ECB keeps rates steady\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ch.jfdi.cc\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/euro-remains-vulnerable-after-ecb-keeps-rates-steady.jpg\",\"datePublished\":\"2024-04-11T18:01:23+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/#\\\/schema\\\/person\\\/ea7c7b31097372a2410ae03401fba715\"},\"description\":\"ECB monetary policy. ECB, interest rates, inflation\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832#primaryimage\",\"url\":\"https:\\\/\\\/ch.jfdi.cc\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/euro-remains-vulnerable-after-ecb-keeps-rates-steady.jpg\",\"contentUrl\":\"https:\\\/\\\/ch.jfdi.cc\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/euro-remains-vulnerable-after-ecb-keeps-rates-steady.jpg\",\"width\":794,\"height\":529,\"caption\":\"Euro remains vulnerable after ECB keeps rates steady\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/?p=7832#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/ch.jfdi.cc\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Euro remains vulnerable after ECB keeps rates steady\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/#website\",\"url\":\"https:\\\/\\\/ch.jfdi.cc\\\/\",\"name\":\"ch.jfdi.cc\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/ch.jfdi.cc\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/ch.jfdi.cc\\\/#\\\/schema\\\/person\\\/ea7c7b31097372a2410ae03401fba715\",\"name\":\"Financial Mirror\",\"sameAs\":[\"https:\\\/\\\/www.financialmirror.com\\\/\"],\"url\":\"https:\\\/\\\/ch.jfdi.cc\\\/?author=4\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Euro remains vulnerable after ECB keeps rates steady","description":"ECB monetary policy. ECB, interest rates, inflation","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_GB","og_type":"article","og_title":"Euro remains vulnerable after ECB keeps rates steady","og_description":"ECB monetary policy. ECB, interest rates, inflation","og_url":"https:\/\/ch.jfdi.cc\/?p=7832","og_site_name":"ch.jfdi.cc","article_published_time":"2024-04-11T18:01:23+00:00","og_image":[{"width":794,"height":529,"url":"https:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/euro-remains-vulnerable-after-ecb-keeps-rates-steady.jpg","type":"image\/jpeg"}],"author":"Financial Mirror","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Financial Mirror","Estimated reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ch.jfdi.cc\/?p=7832#article","isPartOf":{"@id":"https:\/\/ch.jfdi.cc\/?p=7832"},"author":{"name":"Financial Mirror","@id":"https:\/\/ch.jfdi.cc\/#\/schema\/person\/ea7c7b31097372a2410ae03401fba715"},"headline":"Euro remains vulnerable after ECB keeps rates steady","datePublished":"2024-04-11T18:01:23+00:00","mainEntityOfPage":{"@id":"https:\/\/ch.jfdi.cc\/?p=7832"},"wordCount":302,"image":{"@id":"https:\/\/ch.jfdi.cc\/?p=7832#primaryimage"},"thumbnailUrl":"https:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/euro-remains-vulnerable-after-ecb-keeps-rates-steady.jpg","keywords":["appeal","bank","central bank","Christine Lagarde","conditions","conference","consumer price index CPI","currency","data","decline","demand","Dollar","Dollar Index","driving","DXY","ECB","ECB rate cut","Economy","euro","European Central Bank","EURUSD","EURUSD pair","expectations","Fed rates","Federal Reserve","growth","inflation","interest","interest rate","interest rates","labor","Labour","labour market","Main","manufacturing sector","MarketPulse","Markets","meeting","OANDA","policy","president","pressure","price","Producer Price Index","rate cut","statement","statistics","United States","US","US dollar","World"],"articleSection":["Other"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/ch.jfdi.cc\/?p=7832","url":"https:\/\/ch.jfdi.cc\/?p=7832","name":"Euro remains vulnerable after ECB keeps rates steady","isPartOf":{"@id":"https:\/\/ch.jfdi.cc\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ch.jfdi.cc\/?p=7832#primaryimage"},"image":{"@id":"https:\/\/ch.jfdi.cc\/?p=7832#primaryimage"},"thumbnailUrl":"https:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/euro-remains-vulnerable-after-ecb-keeps-rates-steady.jpg","datePublished":"2024-04-11T18:01:23+00:00","author":{"@id":"https:\/\/ch.jfdi.cc\/#\/schema\/person\/ea7c7b31097372a2410ae03401fba715"},"description":"ECB monetary policy. ECB, interest rates, inflation","breadcrumb":{"@id":"https:\/\/ch.jfdi.cc\/?p=7832#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ch.jfdi.cc\/?p=7832"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/ch.jfdi.cc\/?p=7832#primaryimage","url":"https:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/euro-remains-vulnerable-after-ecb-keeps-rates-steady.jpg","contentUrl":"https:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/euro-remains-vulnerable-after-ecb-keeps-rates-steady.jpg","width":794,"height":529,"caption":"Euro remains vulnerable after ECB keeps rates steady"},{"@type":"BreadcrumbList","@id":"https:\/\/ch.jfdi.cc\/?p=7832#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ch.jfdi.cc\/"},{"@type":"ListItem","position":2,"name":"Euro remains vulnerable after ECB keeps rates steady"}]},{"@type":"WebSite","@id":"https:\/\/ch.jfdi.cc\/#website","url":"https:\/\/ch.jfdi.cc\/","name":"ch.jfdi.cc","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ch.jfdi.cc\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/ch.jfdi.cc\/#\/schema\/person\/ea7c7b31097372a2410ae03401fba715","name":"Financial Mirror","sameAs":["https:\/\/www.financialmirror.com\/"],"url":"https:\/\/ch.jfdi.cc\/?author=4"}]}},"_links":{"self":[{"href":"https:\/\/ch.jfdi.cc\/index.php?rest_route=\/wp\/v2\/posts\/7832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ch.jfdi.cc\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ch.jfdi.cc\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ch.jfdi.cc\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ch.jfdi.cc\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7832"}],"version-history":[{"count":0,"href":"https:\/\/ch.jfdi.cc\/index.php?rest_route=\/wp\/v2\/posts\/7832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ch.jfdi.cc\/index.php?rest_route=\/wp\/v2\/media\/7833"}],"wp:attachment":[{"href":"https:\/\/ch.jfdi.cc\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ch.jfdi.cc\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ch.jfdi.cc\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}