At a press conference following the results of the meeting of the European Central Bank, its head Mario Draghi said that due to the deteriorating external demand, the ECB lowered the forecast for GDP growth in the eurozone in 2018 from 2.1% to 2%. For 2019, the forecast has deteriorated to 1.8% from 1.9%, and the growth forecast for 2020 is maintained at 1.7%. The inflation forecast is unchanged. The ECB chairman also said that the regulator expects that the euro exchange rate against the US dollar in 2018 will be 1 dollar 18 cents per euro, and in 2019 and 2020 the rate will drop to 1 dollar 14 cents per euro. Draghi also announced the ECB's forecast for oil prices, according to which Brent crude in 2018 will cost an average of $71.5 per barrel. Next year it is expected to increase to 71 dollars 70 cents per barrel, and in 2020 - a decrease to 69 dollars per barrel.
USD up for weekly gain despite gloomy forecast for economic recovery08.05.2020
Nintendo surpasses Switch forecast; Animal Crossing tops demand07.05.2020
U.S. unemployment claims perpetually filed as COVID-19 hits economy07.05.2020
Ford projects in China cap sales growth in April as market recovers