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It’s been a very light session with no data or news whatsoever. We just got some comments from ECB’s Cipollone reiterating that the current inflation conditions in the Eurozone are far from the ECB’s severe and adverse scenarios, while adding that stagflation remains a remote scenario. Other than that, there’s been nothing.
In the markets, it’s been kind of the same thing, with rangebound price action almost across the board. The most notable mover has been the Canadian dollar as the currency extended the losses following the surprise trade-talks collapse.
In the American session, the only notable event is US Treasury Secretary Bessent’s press conference at 2 pm ET where he’s expected to unveil the ‘toughest’ sanctions in history against Iran. I think most of it is already priced in given that it was telegraphed a week in advance, but you never know.
This article was written by Giuseppe Dellamotta at investinglive.com.