ECB's Nagel: We should act on data, not steps by other central banks

[forex4you]

ECB's Nagel: We should act on data, not steps by other central banks

• Says he's more comfortable with current ECB cut pricing

The market is 95% priced for a first cut on June 6. You could make a compelling argument for an earlier cut given poor German economic data, including the -0.3% GDP number today.

For year end, 88 bps of cuts are priced in, virtually the same as the Fed.

                This article was written by Adam Button at www.forexlive.com.

Source: ECB's Nagel: We should act on data, not steps by other central banks

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