empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
02.07.2024 10:15 AM
The ECB needs more time and data
Open trading account Open demo account

President Christine Lagarde and her chief economist stated yesterday that the European Central Bank does not yet have sufficient evidence to conclude that the threat of inflation has passed. This fuels expectations that officials will unlikely proceed with further interest rate cuts this month. Although inflation data for the eurozone for June is set to be released soon, and if we see a decrease in figures following a slight increase in May, the regulator may take a more dovish stance on future policy.

However, considering that the labor market in the eurozone remains at a fairly good level, the ECB still has time to wait for new information related to the economy. "We are still facing some uncertainties regarding future inflation, especially regarding how core prices will change, wages will grow, and productivity will be like. It is now important to understand whether the economy will suffer from new supply-side shocks," Lagarde said. "We will need time to gather enough data to ensure the risks of exceeding the inflation target have passed."

This image is no longer relevant

As I noted above, all this suggests a preference to keep borrowing costs unchanged at the meeting later this month. Investors are particularly interested in Lagarde's statements on how the ECB will proceed with rate cuts.

It is also worth mentioning that yesterday, there was no discussion of the political struggle in France, nor were there specific indications regarding the ECB's future actions. However, Lagarde reaffirmed her commitment to making decisions as data comes in. "A strong labor market means we can take our time to gather new information, but we also need to remember that the economic growth outlook remains uncertain," she said. "All this points to our data-dependent stance in making policy decisions."

Lagarde also noted that officials' assessment of inflation prospects is based on forecasts but is not limited to them, refuting analysts' assumptions that the ECB would only consider changing rates at quarterly meetings.

She also emphasized that any particular statistic will not sway policymakers, as it has been repeatedly noted that the path back to 2% will be bumpy and may include temporary setbacks. "While the new flow of data constantly supplements and improves our picture of medium-term inflation, we are not committing ourselves to any specific point at which we will definitively act," Lagarde said. "Data dependence does not mean dependence on achieving exact outcomes."

Regarding the current technical picture of EUR/USD, buyers must focus on capturing the 1.0740 level. Only this will allow aiming for a test of 1.0770. From there, it could climb to 1.0790, but achieving this without support from major players will be quite challenging. The ultimate target would be a maximum of 1.0815. In the event of a decline in the trading instrument, I expect serious action from major buyers only around the 1.0720 area. If there is no support, it would be prudent to wait for a retest of the 1.0695 minimum or open long positions from 1.0630.

Regarding the current technical picture of GBP/USD, pound buyers need to capture the nearest resistance at 1.2655. Only this will allow aiming for 1.2670, which will be challenging to break through. The ultimate target would be the 1.2700 area, after which we could discuss a more significant upward surge to 1.2730. In case of a fall, the bears will try to take control of 1.2610. If successful, breaking this range will seriously blow the bulls' positions and push GBP/USD to the 1.2580 minimum with a prospect of reaching 1.2550.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Fundamental analysis
USD/CAD. Analysis and Forecast The USD/CAD pair is showing a modest recovery from levels below 1.3600, retracing most of the previous day's losses, supported by a rebound in the U.S. dollar. In addition, concerns
Irina Yanina
13:09 2025-06-13 +02:00
2860
Fundamental analysis
AUD/JPY. Analysis and Forecast The AUD/JPY pair has been under selling pressure for the third consecutive day, reaching an almost two-week low around 92.30 during Friday's Asian session. After a sharp drop, spot prices
Irina Yanina
12:53 2025-06-13 +02:00
2290
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/CAD. Analysis and Forecast

The USD/CAD pair is showing a modest recovery from levels below 1.3600, retracing most of the previous day's losses, supported by a rebound in the U.S. dollar. In addition, concerns
Irina Yanina 13:09 2025-06-13 UTC+2

AUD/JPY. Analysis and Forecast

The AUD/JPY pair has been under selling pressure for the third consecutive day, reaching an almost two-week low around 92.30 during Friday's Asian session. After a sharp drop, spot prices
Irina Yanina 12:53 2025-06-13 UTC+2

Israeli Missile Strike on Iran Will Crash Global Markets (I Expect Bitcoin and #NDX to Resume Their Decline After a Local Upward Correction)

As I anticipated, the lack of a broad positive outcome in negotiations between China and the U.S. and renewed inflationary pressure led to a sharp decline in demand for corporate
Pati Gani 10:10 2025-06-13 UTC+2

Greed Will Do the Market No Good

The less you know, the better you sleep. Encouraged by a 21% rally in the S&P 500 from its April lows, the crowd continues to buy the dip—completely unbothered
Marek Petkovich 09:35 2025-06-13 UTC+2

What to Pay Attention to on June 13? A Breakdown of Fundamental Events for Beginners

Several macroeconomic reports are scheduled for Friday, but we doubt that the data will significantly impact traders today—especially today. As a reminder, Donald Trump intends to raise tariffs
Paolo Greco 07:16 2025-06-13 UTC+2

GBP/USD Overview – June 13: The Court Won't Stop Donald Trump!

The GBP/USD currency pair continued its upward movement on Thursday and nearly updated its three-year high. For most of the day, quotes hovered around the 1.36 level
Paolo Greco 03:41 2025-06-13 UTC+2

EUR/USD Overview – June 13: America's Economy Gets Lucky

The EUR/USD currency pair continued its strong upward movement throughout Thursday. Is anyone still puzzled as to why the U.S. dollar keeps falling? From our point of view, the reasons
Paolo Greco 03:41 2025-06-13 UTC+2

Trump Sends Out "Letters of Happiness"

It has been less than two weeks since Donald Trump raised import tariffs on steel and aluminum for all countries except the UK. While negotiations with the UK were deemed
Chin Zhao 00:21 2025-06-13 UTC+2

GBP/USD. A Weak Pound Stronger Than a Weak Greenback

Following weak UK labor market data, equally soft figures on British economic growth were released on Thursday. Almost all components of the report came out in the "red zone," increasing
Irina Manzenko 00:20 2025-06-13 UTC+2

The Dollar Flees the Battlefield

The old becomes new again. The word "recession" again trended in the Forex and other financial markets. May's U.S. Consumer Price Index (CPI) fell short of Bloomberg analysts' forecasts. Following
Marek Petkovich 00:20 2025-06-13 UTC+2

Top analytics

Relevance up to 03:00 2025-06-15 UTC--5
Israeli Missile Strike on Iran Will Crash Global Markets (I Expect Bitcoin and #NDX to Resume Their Decline After a Local Upward Correction)
10:10 2025-06-13
Fundamental analysis
Relevance up to 07:00 2025-06-27 UTC--5
Trading Signals for GOLD for June 13-19, 2025: sell below 3,343 (21 SMA - 8/8 Murray)
14:12 2025-06-13
Technical analysis
Relevance up to 07:00 2025-06-18 UTC--5
Trading Signals for EUR/USD for June 13-19, 2025: buy above 1.1500 (21 SMA - 7/8 Murray)
14:14 2025-06-13
Technical analysis
Relevance up to 03:00 2025-06-16 UTC--5
US Market: Israel strikes Iran's nuclear facilities. Market falls, oil and gold rise
11:59 2025-06-13
Stock Markets
Relevance up to 02:00 2025-06-18 UTC--5
Greed Will Do the Market No Good
09:35 2025-06-13
Fundamental analysis
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.