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Euro zone inflation is intact in July, core inflation soars year on year
In July, inflation in the 19 countries of the European Union was intact, as European statistics office Eurostat informed on Thursday. Nevertheless, the closely watched core inflation metric excluding volatile energy costs as well as unprocessed food inched up.
Eurostat also confirmed its earlier flash evaluation of annual inflation in the EU at about 1.3%, with price surges excluding unprocessed food and energy, also confirming 1.3%.
While price surges are still below the ECB's objective of close below 2% annually, core inflation has tacked on from June’s reading of 1.2% and surpassed analyst estimates of 1.2% in a survey of 29 financial experts carried out by Reuters.
Other economic data published on Thursday disclosed that in June the euro zone's trade surplus came in ahead of experts’ expectations at about 26.6 billion euros.
Eurostat stressed that in June exports from the euro zone soared by 3.9% versus 2016, while imports demonstrated a 6.2% leap.
In November, UK factory orders managed to recover, although previously in October they sagged steeply…
What are the main topics, which drive the key currency pairs today? Is there a chance for oil to recover? Find out from the news!
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…