Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
Euro zone producer prices head north a bit faster than anticipated in January
In January, euro zone producer prices surged a bit faster than anticipated, backed by an ascend in energy, capital, and intermediate goods. That’s what data revealed on Monday.
The EU’s statistics office Eurostat informed that prices at factory gates in the trading bloc tacked on by 0.4% month-on-month for a 3% year-on-year rally.
Market experts had hoped for a 0.3% monthly ascend as well as a 2.9% annual leap.
Eurostat told that energy prices bounced off in January, heading north by up to 0.4% on the month following a 2.7% tumble in December. In addition to this, intermediate products prices managed to tack on by up to 0.3% after a 0.4% slump in December. Besides this, capital goods prices went up by nearly 0.6% after no change in December.
Producer prices turn out to be an early gauge of trends in consumer prices due to the fact that unless their changes are absorbed by retailers and intermediaries, they’re passed on to EU customers.
Aside from that, the European Central Bank is on the verge of keeping consumer inflation below, although close to 2% over the medium term. As a matter of fact, in February, consumer prices managed to head north by up to 1.5% year-on-year, speeding up from January’s outcome of 1.4%. As for the probable explanation of this, many experts point to the still high contribution of energy.
Excluding the volatile energy component, in February, consumer prices inched up by about 1.2% year-on-year. By the way, the given reading is equivalent to the outcome of producer prices in January.
The Kansas City Federal Reserve announced Friday the annual Jackson Hole symposium will be held virtually, a reversal from prior plans that saw a modified, in-person program…
The European Central Bank will make its policy statement on July 22 at 14:45 MT (GMT+3).
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).