ECB’s Panetta: Signs of weakness in Eurozone economy are more persistent than anticipated

European Central Bank (ECB) policymaker Fabio Panetta said on Wednesday, “signs of weakness in Eurozone economy are more persistent than anticipated.”

Further comments

We expected a recovery driven by consumer spending.

However, that did not materialise.

Market reaction

These comments have little to no impact on the EURUSD pair as it trades flat at around 1.0450 at the press time.