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03.11.2021 19:24

ECB's de Cos: Factors behind inflation could be more persistent than initially estimated

"The recent surge in inflation is transitory, however factors behind it could be more persistent than initially estimated," European Central Bank (ECB) Governing Council member and Spanish central bank chief Pablo Hernandez de Cos said on Wednesday, per Reuters.

Additional takeaways

"This could lead to relatively high rates of inflation in coming months."

"There is currently high uncertainty about the duration of the current inflation surge."

"As pointed out by ECB President Christine Lagarde, ECB's forward guidance does not support the market view of a first interest rate hike in the third quarter of 2022 nor any time soon afterwards."

Market reaction

The EUR/USD pair showed no immediate reaction to these remarks and was last seen posting small daily gains at 1.1585.

04.11.2021 08:15

Currencies. Daily history for Wednesday, November 3, 2021

03.11.2021 10:30

Commodities. Daily history for Tuesday, November 2, 2021


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00