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As Friday’s survey revealed, roaring euro zone business surge suddenly tailed off toward the end of the first half of this year, thus reacting to an unexpected slowing in the tempo of expansion by services companies.
However, with inflation relatively resilient as well as overall surge sturdy enough, pressure will probably be maintained on policymakers at the ECB in order to pare back soon on their radial loose monetary policy.
Earlier this month, the EU’s key financial institution gave up its bias for more rate drops in a small step towards stabilization.
The PMI actually pointed to second quarter GDP surge of 0.7%, which is faster than the 0.5% forecast in a Reuters survey, earlier this month. The previous quarter the PMIs had correctly showed a 0.6% expansion.
Economic data points to sturdy surge in the euro zone during the second quarter, while inflation will keep to current levels in the nearer months, as the ECB informed on Thursday in a regular economic bulletin.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
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