Previous Trading Days Events 05.06.2024

The European Central Bank cut interest rates for the first time in five years but kept its next move in the dark given increasing uncertainty over inflation. The ECB lowered its recordhigh deposit rate by 25 basis points to 3.75, joining the central banks of Canada, Sweden and Switzerland. 

This seemed to be the start of an easing cycle. 

The Governing Council will continue to follow a datadependent and meetingbymeeting approach to determining the appropriate level and duration of restriction, the ECB said in a statement.

Economists see another two rate cuts from the ECB this year, most likely in September and December, 

Interest rate decisions will be based on its assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation and the strength of monetary policy transmission, the ECB added. The Governing Council is not precommitting to a particular rate path.

The Fed has clearly signalled a delay in policy easing and a further delay in U.S. rate cuts is likely to make the ECB more cautious too.

Source httpswww.reuters.commarketseuropeecbcutsrateskeepsnextmoveunderwraps20240606

Winners vs Losers

Silver climbed to the top again, this week and gained 2.59 so far. Gold is following with 2.06 so far. JPY pairs remain at the bottom JPY as Quote. JP

News Reports Monitor Previous Trading Day 06.06.2024

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