The market takes breath after the long rally. What opportunities do traders have today?
In May, euro zone inflation sags more than expected
In the euro zone consumer price inflation dipped more than expected in May, as official preliminary data unveiled on Wednesday.
Eurostat stressed that in May, consumer price inflation inched up by a seasonally adjusted 1.4%, which is below hopes for a soar 1.5% and following a final 1.9% leap last month.
According to Eurostat, and considering the key components of euro area inflation, in May, energy is supposed to boast the highest annual rate, compared with April’s result of 7.6%, followed by alcohol & tobacco, food as well non-energy industrial goods.
In May, core CPI, excluding energy, food, alcohol and also tobacco costs, leapt by a seasonally adjusted 0.9% from the same period last year, after a 1.2% revenue last month. Experts had hoped core inflation would soar by 1.0%.
The European Central Bank’s inflation objective is officially close to the previously mentioned outcome, though it’s below, keeping to 2.0%. On June 8 the ECB is expected to make its monetary decision.
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.