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: 2025.11.03
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ECB's Nagel: Outlook holding but options open in December
World FX news
Breaking news
ECB's Nagel: Outlook holding but options open in December
New
2025.11.03 15:42
2025.11.03 15:42
2025.11.03 15:42
The European Central Bank (ECB) Governing Council member Joachim Nagel said that Eurozone economic data aren't diverging from the ECB's outlook, but policymakers are keeping their options open, Bloomberg reported on Monday.
Key quotes
The data hasn't changed since last projections in September.
In December, we'll have new projections and will make a decision based on that new data.
We are keeping all options open given the uncertainties.
Market reaction
At the time of press, the EUR/USD pair is up 0.02% on the day at 1.1540.
ECB FAQs
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy for the region. The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
In extreme situations, the European Central Bank can enact a policy tool called Quantitative Easing. QE is the process by which the ECB prints Euros and uses them to buy assets - usually government or corporate bonds - from banks and other financial institutions. QE usually results in a weaker Euro. QE is a last resort when simply lowering interest rates is unlikely to achieve the objective of price stability. The ECB used it during the Great Financial Crisis in 2009-11, in 2015 when inflation remained stubbornly low, as well as during the covid pandemic.
Quantitative tightening (QT) is the reverse of QE. It is undertaken after QE when an economic recovery is underway and inflation starts rising. Whilst in QE the European Central Bank (ECB) purchases government and corporate bonds from financial institutions to provide them with liquidity, in QT the ECB stops buying more bonds, and stops reinvesting the principal maturing on the bonds it already holds. It is usually positive (or bullish) for the Euro.
Last updated
: 2025.11.03
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EUR/CHF extends advance as soft Swiss inflation revives rate-cut bets
The Euro (EUR) strengthens against the Swiss Franc (CHF) on Monday, as the Franc weakens broadly after Swiss inflation unexpectedly cooled in October. At the time of writing, EUR/CHF is trading around 0.9298, extending gains for the second consecutive day.
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2025.11.03 22:22Canadian Dollar pressured by falling Oil, US Dollar strength
USD/CAD edges higher on Monday, up 0.20% for the day at 1.4040 at the time ot writing, but its bullish momentum appears to be fading below the 1.4050 level.
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2025.11.03 22:07Fed's Miran: Being too data dependent makes policy too backward looking
In an interview with Bloomberg TV on Monday, Federal Reserve (Fed) Governor Stephen Miran argued that if the Fed maintains a restrictive stance of policy, it increases the chance that monetary policy will cause a downturn.
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2025.11.03 21:58EUR/GBP Price Forecasts: Euro hesitates at 0.8770 amid bearish technical signs
The Euro extends losses below 0.8770 after rejection at 0.8785 earlier on Monday.
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2025.11.03 21:28USD/CNH might edge above 7.128 - UOB Group
There is scope for US Dollar (USD) to edge above 7.1280, but it is unlikely to be able to maintain a foothold above this level.
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2025.11.03 21:07USD tops G10 currencies in October - Rabobank
Not only was the US Dollar (USD) the best performing G10 currency in October, but it is the best performer amongst its peers in the second half of the year.
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2025.11.03 21:04Gold trades steady near $4,000 as firm US Dollar and risk-on mood limit upside
Gold (XAU/USD) kicks off the week on a cautious footing, oscillating within its established $3,900-$4,050 range as traders weigh an evolving macroeconomic backdrop. At the time of writing, XAU/USD is trading around $4,008 after briefly slipping to $3,962 earlier in the Asian session.
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2025.11.03 21:03USD/JPY: Clear break above 154.50 is unlikely - UOB Group
Upward momentum is slightly firm, and US Dollar (USD) could test 154.50; a clear break above this level is unlikely. In the longer run, sharp increase in upward momentum could lead to further USD advance toward 154.90, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.11.03 20:58USD/CNH strengthens above 7.1200 - BBH
USD/CNH edges higher as a softer-than-expected China PMI contrasts with optimism from the US-China trade truce, supporting the yuan, BBH FX analysts report.
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2025.11.03 20:55NZD/USD: Unlikely to be able to break below 0.5700 - UOB Group
New Zealand Dollar (NZD) could continue to edge lower, but it is unlikely to be able to break below 0.5700. In the longer run, NZD is under mild downward pressure, and could edge lower, potentially testing 0.5700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.11.03 20:49Disclaimer:
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