07 June 2017 at 10:58 GMT
Lower energy prices are reportedly behind the ECB's decision
to cut its inflation outlook.Photo: Shutterstock
By the Global Sales Team
- The euro is declining as the European Central Bank is reported to be slashing inflation forecasts through 2019 on projections of lower energy prices.
- German manufacturing orders missed estimates at minus 2.1% versus minus 0.5% expected.
- European stocks logged gains, with bank shares advancing after Spain’s Banco Santander SA’s deal to buy the struggling Banco Popular Español SA.
- Precious metals are retracing some of the recent gains ahead of Thursday's "triple threat" of event risks (ECB, UK election, James Comey testimony).
Please click on the attached PDF for the Saxo Bank Global Sales Team's overview of the mid-session movements seen in forex, equity, FX option, commodity, and bond markets.