EUR=X
DX-Y.NYB
The euro climbed slightly on Thursday following the European Central Bank’s decision to maintain interest rates, while the dollar softened against most major currencies in the wake of data indicating rising US <a As expected, the ECB leaves rates unchanged at today's meeting, but signals that a rate hike in December is firmly in play, citing upside risks to the inflation outlook," said Marchel Alexandrovich, European economist at Saltmarsh Economics.
“The bigger news is the confirmation that Christine Lagarde will leave her post in February, rather than in October of next year. Markets will not be surprised by the announcement, but it will bring into focus the fact that the ECB is heading for a significant reshuffle in the first half of 2027, with Isabel Schnabel, Lagarde, and Philip Lane — the ECB’s de facto chief economist — all set to depart imminently.”
US Commerce Department figures revealed that inflation accelerated throughout September as consumers faced higher prices for gasoline and other goods, reinforcing economist forecasts for a Federal Reserve interest rate hike in December. Conversely, the data also showed that the US economy expanded faster than anticipated during the third quarter, bolstered by robust consumer <a throw sand in the gears" and slow growth or raise unemployment, leading traders to scale back their expectations for rate hikes in 2027.
Warsh further noted that the central bank intends to dedicate one of its eight standard policy meetings next year, and two in 2028, to addressing major institutional challenges, rather than using those sessions to deliberate on monetary policy adjustments.
