Gate.io: Market Sticks to October Rate Cut Bet, Euro Faces Downside Risks

On October 8th, Jinshi Data reported that Francesco Pesole, an analyst at ING, believes that due to the fact that the currency market has almost completely digested the rate cut in October by the European Central Bank, the euro faces the risk of weakening, despite the possibility of a rate cut being smaller than that implied by the market. He stated that the data continues to show that service sector inflation remains high, and the rise in oil prices means that the European Central Bank may raise its inflation expectations. However, he also said that the market is unlikely to easily give up on the bet of a rate cut in October, and the difference in interest rates between the US dollar and the euro is large, so the euro against the US dollar still faces some pressure in the short term.