Single Currency Weak, German CPI Next
The Euro/Dollar pair fell 0.11% to trade at 1.1695. Today, investors are waiting for German Preliminary Consumer Price Index, US consumer spending, inflation data and jobless claims. Tomorrow, Germany will feature retail sales and the Eurozone will publish CPI Estimate. We’ll get UoM Consumer Sentiment from the United States, whose economy remains robust as ever. Recently, Gross Domestic Product for the second quarter was revised up from 4.1% to 4.2%. Comparing to Q1, growth rose 2.2%.
The common currency posted some broad gains as German Ifo Business Climate impressively grew to 103.8, recording the first improvement in 2018. However, euro isn’t expected to peak nor to be attractive to investors due to ECB’s monetary policy decisions. That is, Mario Draghi claimed interest rates will remain at low levels throughout this year and almost the entire 2019.