On Thursday, the European Central Bank (ECB) reduced its interest rate by 25 basis points (bps) but also left room for a potential further reduction of 50 bps.

Christine Lagarde, President of the ECB, commented that the central bank is considering additional rate cuts. This comes after the ECB decided to lower the interest rate by 25 bps to 3%, reflecting concerns over slowing economic growth caused by weakened exports and sluggish investment.

On the economic data front, industrial production in the Eurozone remained stable in October, following a sharp contraction in September. Economists predict that manufacturing output may decline by 0.1% year-on-year.

Source: Fxstreet