Page 3 - Les Echos News Today

Commodity currencies rises broadly in Asian session today, buoyed by slight improvement in risk sentiment after a relatively quiet weekend in the Middle East. This contrasted with the performance of typically safe-haven assets such as Swiss Franc, Japanese Yen, and Dollar, all of which traded mildly lower. Gold also dips away from 2400 mark, while WTI crude oil lingered around 82. Overall, the picture suggests relative calm in the markets for now.

ECB Governing Council member Francois Villeroy de Galhau, in a discussion with Les Echos, stressed that increase in oil prices due to conflicts in the Middle East would not trigger a "mechanical" policy shift. Instead, the bank would carefully assess whether these increases significantly fuel core inflation and inflation expectations before deciding on any action.

Forex news for Asian trading on Monday, 22 April 2024

Tension in the Middle East is unlikely to drive up energy prices and should not affect the European Central Banks plans to start cutting interest rates in June, French central bank chief Francois... -April 21, 2024 at 03:30 pm EDT - MarketScreener

Tension in the Middle East is unlikely to drive up energy prices and should not affect the European Central Bank's plans to start cutting interest rates in June, French central bank chief Francois Villeroy de Galhau said on Sunday. "Barring surprises, there is no need to wait much longer", Villeroy told business daily Les Echos in an interview, reiterating the stated position of senior ECB policymakers that the euro zone's central bank will start cutting rates in June.

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