Vice President of the European Central Bank (ECB) Luis de Guindos stated on Wednesday that it is highly likely that negative growth rates will be observed in the Eurozone during the fourth quarter. Future inflation forecasts are expected to remain high until beginning to decline in the first quarter of 2023.
Future inflation forecasts will demonstrate that core inflation will also remain high. Following the aforementioned remarks and mixed French S&P Global Preliminary PMIs, the EUR/USD is declining from intraday highs of 1.0349.
The pair has gained 0.33% so far today.
