The EURUSD is trading at 1.1026 as the press conference begins. The high for the day has reached 1.1032 after the decision. The 100 hour MA looms above at 1.10416
Headlines from commentary:
- recovery is facing headwinds
- recovery to strengthen.
- Fading monetary policy restrictions should support economy.
- Labor market remains resilient.
- Surveys point to further moderation and demand for labor
- Goods inflation and services inflations move in opposite directions.
- Negotiated wage growth will remain high and volatile for the rest of 2024. Overall labor cost growth moderating.
- Unit labor costs to continue declining owing to lower wage growth in recovery and increased productivity
- Risks to growth remain and are skewed to the downside
- Growth could be higher if inflation comes down quicker than expectations., or the world economy grows stronger than expectations.
- Wages/profits/trade tensions potential for upside risks for inflation.
- Extreme weather events and global warming could drive up food prices.
This article was written by Greg Michalowski at www.forexlive.com. Source