Olli Rehn, a member of the European Central Bank’s governing council, said that the inflation outlook for the eurozone faces two-way risks and stressed that he and his colleagues have retained full flexibility on interest rates.
Finnish officials told Bloomberg Television on Thursday that, in the medium term, faster economic growth could push up consumer prices, while lower energy costs, a stronger euro and slower wage growth could put pressure on consumer prices.
“The risks we face are two-way,” Raine said at the International Monetary Fund’s annual meeting in Washington. “In the current context of widespread uncertainty caused by the trade war and geopolitical tensions, it is important that we maintain full freedom of action and the flexibility of monetary policy.”
The European Central Bank has kept borrowing costs unchanged for eight consecutive months since June. The market widely expects that the rate will remain unchanged this month. Although most policymakers have indicated that the easing policy may have come to an end, some believe that the possibility of further measures should not be ruled out.
Inflation in the 20 countries of the eurozone is currently hovering around the 2% target level and is expected to remain at that level in the medium term. The economy is set to gain some momentum in the coming years. However, more dovish officials are concerned that growth could be weaker than expected, thereby dragging down the growth of the consumer price index.
Technical analysis:
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Gold: Yesterday, we set up a combination of yellow and green alerts in the 4200-4220 range, and the price indeed bottomed out in that area and started a new round of rise. This morning, the price experienced a wide range of 100-dollar fluctuations, and it has almost recovered all the lost ground. We continue to maintain a bullish strategy. If the consolidation is completed later, we can try to break through the momentum. For detailed positions, please consult the plugin.
(Gold 15-minute chart)
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Nasdaq: The strategy of buying when the price breaks through the blue area as indicated by our plugin yesterday was highly effective. Additionally, we have set up a yellow area below to watch for liquidity clearance. The price touched this area overnight and then stabilized. For today, we will continue to follow the buy operation after the upward convergence and breakthrough. At the same time, we will also keep an eye on the liquidity clearance operation below. For detailed positions, please consult the plugin.
(NASDAQ 15-minute chart)
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Crude oil: Yesterday, the blue zone we alerted through the plugin did not break above 59.45, and the condition was not triggered. No new bullish energy entered, and the price continued to fluctuate and decline. Today, it may continue to consolidate at a low level. We suggest observing for one day and attempting again next week. For detailed positions, please consult the plugin.
(Crude Oil 15-Minute Chart)
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