Forex News

Eurozone output growth expanded for the 15th straight month in May, albeit at a slower pace, amid headwinds linked to the ongoing conflict between Russia and Ukraine and the supply chain issues. EZU is down 0.25%, while VGK is flat premarket. Source: Markit Economics The S&P Global Eurozone PMI Composite Output Index stood at 54.9 in May, lower than the 55.8 recorded … [Read more...] about Eurozone Output Cools on Geopolitical Tensions, Supply Constraints

Source: European Central Bank The European Central Bank is set to put a close to its negative rates, with borrowing costs likely to hit zero by the end of the third quarter, according to President Christine Lagarde. EZU is up 1.48%, while VGK is up 1.56%. Lagarde said the current outlook indicates that the ECB could be in a position to exit negative interest rates by the … [Read more...] about ECB Hints at Neutral Rates by September

Source: European Commission Consumer confidence continued to decline in the European Union in May but inched up in the eurozone during the period. EZU is up 0.39%, while VGK is up 0.46%. The consumer confidence flash estimate for the European Union stood at -22.2 in May, marking a decline of 0.4 points from the previous months.The eurozone consumer confidence indicator … [Read more...] about EU Consumer Confidence Plunges Lower, Eurozone Picks Up

Source: Destatis Producer inflation in Germany continued to accelerate in April, hitting the fastest pace on record, driven mainly by higher energy prices. EWG is up 0.96%, while DAX is up 0.98%. Annual producer inflation stood at 33.5%, following the 30.9% in March and 25.9% in January. This is the highest on record.Monthly inflation stood at 2.8%, taking into account … [Read more...] about German Producer Inflation Quickens to Record High as Energy Prices Climb Further

Source: Office for National Statistics Retail sales in Great Britain rebounded in April, as most sectors reported higher buying activity during the month. EWU is up 1.40%, while EZU is up 0.96%. Retail sales volumes climbed by 1.4% in April, following the 1.2% decline the previous month. This reflects a 4.1% growth from the February 2020 levels.Food store sales volumes … [Read more...] about Great Britain Retail Sales Rebounds as Buying Activity Climbs