ECB’s Nagel: increasingly confident over disinflation

ECB Nagel:

• Increasingly confident over disinflation
• Rate cuts must be gradual as risks remain.
• Growth likely to stagnate in Q4
• Germany falling behind euro zone average
• Slower wage growth to help service prices to moderate
• Trump tariffs boosting eurozone inflation a real risk

The EURUSD tried to extend above technical lows including the 100 hour moving average, a downward sloping trendline and the 200 hour moving average between 1.0509 and 1.05344. The high price reached between those levels up to 1.05295 before rotating back to the downside the price is now below a swing area between 1.0483 and 1.0500.

Buyers had their shot. They missed. Close risk for traders will now be the 1.0500 again.

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