At risk of sliding towards 1.01 if not parity – Westpac

A proactive European Central Bank (ECB), recent yields with inflation and growth concerns are heightening “fragmentation” risks for indebted nations and will pressure EUR, according to economists at Westpac. They highlight that the EUR/USD pair could slide towards parity. ECB needs to address the risks of “fragmentation” “Higher debt servicing will exacerb the cost of … Read more

Eurozone Retail Sales rose by 3.9% YoY in April vs. 5.4% expected

Eurozone Retail Sales fell by 1.3% MoM in April vs. 0.3% expected. Retail Sales in the bloc arrived at 3.9% YoY in April vs. 5.4% expected. Eurozone’s Retail Sales dropped by 1.3% MoM in April versus 0.3% expected and 0.3% last, the official figures released by Eurostat showed on Friday. On an annualized basis, the … Read more

Euro area Unemployment Rate stays unchanged at 6.8% in April vs. 6.7% expected

Unemployment Rate in the euro area remained steady at 6.8% in April. EUR/USD continues to fluctuate in a tight range above 1.0700. The monthly data published by Eurostat showed on Wednesday that the Unemployment Rate in the euro area and the EU stayed unchanged at 6.8% and 6.2%, respectively, in April. Markets were expecting the … Read more

Eurozone Preliminary Inflation surges 8.1% YoY in May vs. 7.7% expected

The annualized Eurozone Harmonized Index of Consumer Prices (HICP) reported by 8.1% in May vs. the previous reading of 7.4%, the latest data published by Eurostat showed on Friday. The consensus forecast was for a reading of 7.7%. The core figures arrived at 3.8% YoY in May when compared to 3.5% expectations and 3.5% booked … Read more

XAUUSD to fall further on high EU inflation – Commerzbank

Gold shed all of its initial gains again on Monday. Today, Eurostat will release the preliminary Harmonised Indices of Consumer Prices (HICP) data. High inflation could prompt calls for sharper hikes from the European Central Bank (ECB), weighing on the yellow metal, economists at Commerzbank report. Headwind for gold “Gold is facing headwind from the … Read more

Forecasts from four major banks, inflation to hit new record

The eurozone will release its May Harmonised Index of Consumer Prices (HICP) report on Tuesday, May 31 at 09:00 GMT and as we get closer to the release time, here are the expectations by the forecasts and researchers of four major banks regarding the upcoming EU inflation print. Expectations are for HICP to rise further … Read more

EUR/JPY tumbles below 136.30 ahead of EU HICP

EUR/JPY has slipped to near 136.27 amid the ongoing EU Leaders Summit. Higher inflation forecasts in Germany and Spain are bolstering the odds of a rate hike by the ECB. Japan’s Unemployment Rate may remain unchanged at 2.6%. The EUR/JPY pair has witnessed some selling pressure after failing to sustain above 136.60 in the Asian … Read more