Good Morning ,
Here’s a quick look at today’s economic news and market activity:
- There was a risk averse tone to investor sentiment yesterday …
- US CPI inflation was in line with the consensus, with the headline rate growing to 4.2% from 3.8% …
- However, this release had negligible impact on financial markets yesterday …
- Currency-wise, the main pairs continued to change hands within very narrow trading ranges …
- EUR/USD opens this morning at the midpoint of $1.15-1.16 …
- GBP/USD remains in the top half of the $1.33-1.34 corridor …
- EUR/GBP operates in the lower half of the 86-87p range …
- Turning to today, the main focus will be on the ECB policy decision, with updated macroeconomic projections and an expected rate hike of 25bps …
- The data calendar is quite sparse elsewhere, as US PPI inflation (May) is released, with focus remaining on Middle Eastern developments …
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