ECB's Nagel: We should act on data, not steps by other central banks
Says he's more comfortable with current ECB cut pricingThe market is 95% priced for a first cut on June 6. You could make a compelling argument for an earlier cut given poor German economic data, including the -0.3% GDP number today.For year end, 88 bps of cuts are priced in, virtually the same as the Fed. This article was written by Adam Button at www.forexlive.com.
- Says he's more comfortable with current ECB cut pricing
The market is 95% priced for a first cut on June 6. You could make a compelling argument for an earlier cut given poor German economic data, including the -0.3% GDP number today.
For year end, 88 bps of cuts are priced in, virtually the same as the Fed.
This article was written by Adam Button at www.forexlive.com.
