Euro zone inflation was stable in July but its core measure, which is closely watched by the European Central Bank, went up to a four-year high against market expectations of a drop, flash estimates released by Eurostat showed on Monday.
In a separate release, the European Union’s statistics office said unemployment in the 19-country currency bloc dropped to its lowest level since 2009, confirming the robust recovery of the euro zone’s economy and giving the ECB more ground for tightening its monetary policy in autumn.
Eurostat estimated that consumer prices in the euro zone were stable at 1.3 percent year-on-year in July, the same as in June and in line with forecasts of economists polled by Reuters.
Venezuela To Prop Up Oil And Gold
USD/CAD Canadian Dollar Higher After Stronger 2Q GDP
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Craig Erlam
Latest posts by Craig Erlam (see all)
- OANDA Market Insights podcast (episode 32) - 09/21/2018
- Sterling Down on May Brexit Warnings - 09/21/2018
- Sterling lower as EU rejects May Brexit proposal - 09/21/2018