Single Currency is Quiet
The Euro/Dollar pair is almost motionless, trading up 0.07% at 1.1817. Today, the US will release the Philly Fed Manufacturing Index and jobless claims. Tomorrow, Germany will present Purchasing Price Index and the Eurozone will announce current account and trade balance.
Eurozone and German inflation indicators pointed at declines. German Final Consumer Price Index fell from 0.4% to 0.0%. Eurozone Final Consumer Price Index reduced from 1.3% to 1.2%. Core Final CPI declined to 0.7% from 1.0%. The data prompted speculations about ending the ECB asset purchase program. Francois Villeroy de Galhau (Bank of France Governor) claimed the European Central Bank could give some more details on its rate path soon. At first, euro responded with a gain, but then the momentum slowed.
It seems that weak US inflation has started to pick up, as Consumer Price Index rose 0.2% and Core Consumer Price Index reduced to 0.1%. But, the Fed 2% target is far from being reached. The June rate hike is in store, with odds holding at 100%. The greenback is expected to peak.