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Dec 16, 2024
December PMI data
The PMI data itself, investors are discounting Lagarde's comments. The ECB president announced that the bank is getting closer to its inflation target, and unless something unusual happens in the market, we can expect further rate cuts.
The comments were clearly dovish, but with the full assessment of a 50bp cut in January, the market expected such a stance and for this reason, we see the EUR/USD pair making a slight attempt to recover from its recent lows.
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