Dear Reader,

Today's overview of economic news and market action

• Quiet start to the week on financial markets …
• Currency-wise, the main FX pairs were confined to narrow ranges …
• Of the limited price action, the euro was marginally softer …
• Sees EUR/USD open today back near the midpoint of $1.08-1.09 …
• EUR/GBP is changing hands close to the halfway mark of 85-86p …
• GBP/USD is just above $1.27 …
• Muted macro calendar on both sides of the Atlantic again today …

Data give comfort ahead of June ECB decision

With the market leaning towards a June rate cut, the latest inflation and wage data for the Eurozone suggest price pressure continues to ease in line with expectations, building the case for a shift in ECB policy at its next meeting. Friday’s Eurozone inflation release confirms the initial estimate of a 2.4% rise in consumer prices in April.