European Central Bank (ECB) Outlook
Renowned ECB Governing Council member, Gediminas Šimkus, delivered a notable statement on Tuesday regarding the possibility of an October rate cut. Šimkus confidently stated that the likelihood of a rate cut in October is very small, providing insight into the ECB’s current stance on monetary policy.
Key Quotes
“We won’t have many new data points in October.”
“The economy is developing in line with forecasts.”
These quotes shed light on the ECB’s cautious approach to monetary policy adjustments and their reliance on existing data for decision-making.
Market Response
Šimkus’ comments have had a notable impact on the market, particularly in favor of the Euro. The EUR/USD pair experienced a 0.09% increase, reaching 1.1140, following the release of this information.
Euro Price Today
The table below illustrates the percentage change of the Euro (EUR) against major currencies for the current day, highlighting its strength against the US Dollar:
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.10% | -0.07% | -0.04% | -0.02% | -0.20% | -0.11% | -0.15% | |
| EUR | 0.10% | 0.02% | 0.05% | 0.04% | -0.11% | 0.02% | -0.05% | |
| GBP | 0.07% | -0.02% | 0.02% | 0.05% | -0.13% | -0.04% | -0.10% | |
| JPY | 0.04% | -0.05% | -0.02% | 0.04% | -0.14% | -0.04% | -0.11% | |
| CAD | 0.02% | -0.04% | -0.05% | -0.04% | -0.18% | -0.07% | -0.15% | |
| AUD | 0.20% | 0.11% | 0.13% | 0.14% | 0.18% | 0.08% | 0.02% | |
| NZD | 0.11% | -0.02% | 0.04% | 0.04% | 0.07% | -0.08% | -0.07% | |
| CHF | 0.15% | 0.05% | 0.10% | 0.11% | 0.15% | -0.02% | 0.07% |
The heat map above provides a visual representation of the percentage changes among major currencies, offering valuable insights for investors and traders.