– ECB Set to Cut Rates Next Week Despite Rising German Inflation

Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.03% 🇯🇵JPY: -0....Preliminary German inflation data for May shows annual inflation moving higher but monthly inflation moving lower. Annual inflation edged up to 2.4%, in line with market expectations, from 2.2%, while monthly inflation rose by just 0.1%, compared to expectations of 0.2% and a prior month’s reading of 0.5%.

Typically, contrarian trading strategies that go against the crowd sentiment tend to yield better results. With traders currently leaning towards a net-short bias, this could potentially signal further upside for the EUR/USD pair. However, the mixed positioning data, with a less net-short stance than yesterday but a more net-short stance compared to last week, suggests a mixed trading bias for the EUR/USD currency pair.

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ECB's Stournaras: Three ECB cuts now more likely in 2024The European Central Bank (ECB) Governing Council member and Governor of the Bank of Greece, Yannis Stournaras, said on Friday that the central bank will probably lower borrowing costs three times this year instead of four, according to Bloomberg.
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Big moves ahead: ECB’s interest rate cut and the future of EUR/USDThe European Central Bank is set for a major move: an interest rate cut in June.
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ECB's Schnabel: July cut doesn’t look warrantedEuropean Central Bank (ECB) Board member Isabel Schnabel said on Friday that the central bank may cut interest rates in June, but policymakers should look very carefully at the data because there is a risk of easing prematurely, per Reuters.
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