Single Currency Stronger, US Shares Back On Track
The single currency has broadly reinforced. The Euro/Dollar pair increased 0.42% to close at 1.2342. French Preliminary Payrolls rose to 0.3%. Tomorrow, we’ll get German and Eurozone Gross Domestic Product figures. Additionally, Germany will feature Final Consumer Price Index and the US will present CPI and retail sales. Greenback is rather quiet while stocks keep recovering. Tomorrow’s inflation numbers will be decisive in investors’ expectations about a rate hike. Market will be sensitive to the data and it it points at rise, gold and shares will drop.
In his last week’s speech, Mario Draghi acknowledged that Eurozone economic growth is improving and inflation is getting closer to ECB objective. Although, he did say that exchange rate’s uncertainty interferes with the dynamic of inflation. The President pledged to solve it.