Single Currency Slightly Up, German Consumer Price Index Positive
The Euro/Dollar pair lifted 0.04% to 1.1678. German Final Consumer Price Index declined from 0.5% to 0.1% in June, which lived up the expectation. Eurozone Industrial Production rose 1.3%. Today, the European Central Bank will issue its June policy meeting accounts and the US will feature Consumer Price Index, Core Consumer Price Index and jobless claims. Tomorrow, we’ll get German WPI and US UoM Consumer Sentiment.
Donald Trump claimed he will impose another 10% tariffs on 200 billion dollars of Chinese goods, including food products, tobacco, chemicals, coal, steel and aluminum. China responded it would retaliate. But, the majority of US firms working in China are strongly against retaliation tariffs. The threats include China government’s preferability to its national firms, growing costs and domestic competition. The greenback is rising on the turmoil while euro is suffering.