BRUSSELS (Reuters) - The European Central Bank is growing increasingly confident that inflation will rise back to its target but patience is still needed, ECB President Mario Draghi said on Monday.
SYRACUSE, N.Y. (Reuters) - The Federal Reserve is on track to gradually raise interest rates given the recent inflation weakness is fading and the U.S. economy’s fundamentals are sound, an influential Fed policymaker said on Monday, reinforcing the central bank’s confident tone.
The euro has started the week with losses, as EUR/USD has dropped below the 1.19 level. Currently, EUR/USD is trading at 1.1885, down 0.52% on the day. Germany went to the polls on Sunday, and Angela Merkel won a fourth term as president. On the release front, German Ifo Business Climate slowed to 115.2, short of the estimate of 116.0 points.
Japan's Financial Services Agency (FSA) will begin more closely monitoring cryptocurrency exchanges from next month.
Use cases for Bitcoin have been popping up everywhere, with new ‘Accepts Bitcoin’ signs on everything from coffee carts to retail stores in South Africa.
Next trading day's important events
- USDJPY: 112.23
- EURUSD: 1.1881
- S&P 500: 2501.62
- NASDAQ: 6398.28