Single Currency Rose At Last
The Euro/Dollar pair staged some upward movement, rising 0.08% to 1.2279. Eurozone Consumer Price Index increased to 1.4%, Core Consumer Price Index Flash Estimate stayed at 1.0% and jobless rate reduced to 8.5%. Today, the US will release ADP Nonfarm Payrolls and ISM Non-Manufacturing PMI.
Today, China slapped back on the US. Chinese finance ministry announced even more tariffs on the US products. The tariffs will sum up 25% and the list includes 106 goods, worth 50 billion dollars. They are: soybeans, autos, chemicals, some types of aircraft, corn products and other agricultural production. Representatives of the US and China are yet to comment the situation. Presidents Donald Trump and Xi Jinping will resume the trade negotiation.
There are continuous speculations about ECB policy tightening. Jens Weidmann (German central bank head) insists on ending the QE program as soon as possible and adds that a rate hike in mid-2019 is a rather possible scenario. Klaas Knot (Dutch central bank head), on the other hand, says the asset purchase program should resume instead of ending in September. But, if ECB ultimately decides to terminate it, euro will soar.