The ECB marked a historic moment, initiating a cutting cycle before the Fed. The euro rose on the back of upward revisions to both inflation and growth in 2024
Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.12% Oil ...Recent Lift in EU Data Points to a Staggered but Managed Cutting Cycle
Inflation has, until recently, revealed a steady and consistent decline as restrictive monetary policy has had a desired effect on the level of general prices in the euro zone. However, recent data has propped up, with some corners of the market concerned this may prevent/delay future rate cuts. However, inflation concerns have emerged after EU inflation rose from a steady 2.4% to 2.6% in May . Another risk to the inflation outlook has emerged as negotiated wages also ticked higher. Officials appeared to brush off the hotter data as the most recent figure was influenced by German wages which are still catching up; and a blog from the ECB mentioned other indicators suggest wages are moderating.
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