Hawks on the ECB open to September rate cut provided upcoming data confirms disinflation

The traditional ECBs sources leak is out saying:

• ECB hawks open to September rate Provided upcoming data confirms disinflation underway

Going back to the cut in June,, from the get-go, the ECB members felt uneasy about the cut. Since then, they seem to have been influenced by talking too much about a bias. Lagarde gave me that feeling today as well.

In this comment it is still a contingency tilt, but it speaks to the most hawkish that they are open minded. The doves are more ready, but they also need to be shoved now.

Of course if the Fed cuts, I would expect the ECB to follow.

This article was written by Greg Michalowski at www.forexlive.com.