Single Currency Slightly Boosted, German Gross Domestic Product Next
The Euro/Dollar pair rose 0.33% to trade at 1.1981. Today, the FOMC member Loretta Mester will deliver her speech. Tomorrow, we’ll get German Preliminary Gross Domestic Product and ZEW Economic Sentiment as well as the US Retail Sales and Core Retail Sales.
On Friday, the US presented some upbeat consumption data. That is, the UoM Consumer Sentiment increased to 98.8 in April. The job growth, on the other hand, has slightly lowered as there was a lack of skilled employees. Last week, however, JOLTS Job Openings hit the maximum of 6.6M. Inflation is still weak. The US Labor Department reported that CPI rose by 0.2% in April as increases in the cost of gasoline and rents were tempered by a drop in motor vehicle prices. The core CPI reduced 0.1% in March. On annual basis, the CPI rose by 2.5%, the biggest gain since February 2017. The case of June rate hike remains in store, with funds pricing in 100%.