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Maroc Maroc - FINANCIALMIRROR.COM - A La Une - 13/Dec 14:08

Lagarde concerns over Eurozone growth dampen Euro outlook

EURUSD broadly consolidated near 1.0470 in Friday’s European session, staying under bearish pressure after comments from European Central Bank President Christine Lagarde on Thursday indicated that more interest rate cuts are in the pipeline, a scenario that has dampened the Euro’s outlook. After the ECB opted to reduce its Deposit Facility rate by 25 basis points (bps) to 3%, Christine Lagarde highlighted the deteriorating Eurozone growth outlook amid a slowdown in exports and weak business investment, which points to the need for further policy easing. “Surveys indicate that manufacturing is still contracting and growth in services is slowing,” she said,

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