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Lagarde Watching Oil Impact From Israel-Hamas Conflict - Bloomberg

ECB
  • Bloomberg reports that President Lagarde has told Euro Area finance ministers that the ECB is watching the oil price for any inflationary impact from the Israel-Hamas conflict, according to people familiar with the matter.
  • The comments were at a closed-door meeting today in Luxembourg.
  • Impact for EURUSD is limited to only another 5 pip gain to 1.0553 but close to earlier session highs with the pair 0.4% higher on the day as it unwinds yesterday’s decline (but still some 0.6% below pre US CPI levels).

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