Forex News
The comments from European Central Bank (ECB) policymaker and Bundesbank President Joachim Nagel released during Friday’s European session on Bloomberg signal that the central bank is committed to a chieve price stability.
Comments
ECB will take decisive action if needed to bring inflation back to target.
Consumer-price growth has picked up again.
Can’t be ruled out that prices will continue to rise in the coming weeks.
Higher energy costs being a major contributing factor.
Market reaction
No immediate reaction is seen in the Euro (EUR), following remarks from ECB's Nagel. As of writing, EUR/USD is up 0.22% to near 1.1200.
Nagel flags renewed inflation risks, keeps ECB tightening threat alive
ECB’s Nagel delivers a stronger-than-usual warning on inflation, with an 8.2/10 FXS Speechtracker score notably above the 6.9/10 historic average, signaling a hawkish shift. The pledge that the ECB will take “decisive action if needed” to bring inflation back to target reinforces the perception that further tightening remains firmly on the table.
Nagel’s emphasis that consumer-price growth has picked up again and that it “can’t be ruled out” prices will continue to rise in the coming weeks underscores upside inflation risks. By highlighting higher energy costs as a major contributing factor, the speech supports a narrative of persistent price pressures, which is typically Euro-supportive as markets reassess the probability of additional ECB action.
According to Eurostat, Eurozone preliminary Gross Domestic Product (GDP) growth remains stronger at 0.4% in the third quarter this year, compared to estimates of 0.2%. In the second quarter, the GDP growth was 0.8%. On an annualzied basis, the GDP growth rate remained unexpectedly stronger at 1.3%, while it was expected to cool down to 1.1% from the previous reading of 1.2%.
The Unemployement Rate in September remains stable at 6.5%, higher than 6.4% estimates. The August figure was revised higher from 6.4%.
Market reaction
A mild positive action is occurs in the Euro (EUR), following the data release. As of writing, EUR/USD is up 0.23% to near 1.1202.
Economic Indicator
Gross Domestic Product s.a. (QoQ)
The Gross Domestic Product (GDP), released by Eurostat on a quarterly basis, is a measure of the total value of all goods and services produced in the Eurozone during a certain period of time. The GDP and its main aggregates are among the most significant indicators of the state of any economy. The QoQ reading compares economic activity in the reference quarter to the previous quarter. Generally, a rise in this indicator is bullish for the Euro (EUR), while a low reading is seen as bearish.
Read more.Last release: Fri Oct 30, 2026 10:00 (Prel)
Frequency: Quarterly
Actual: 0.4%
Consensus: 0.2%
Previous: 0.6%
Source: Eurostat
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