See also
05.12.2024 07:37 AMThe rate of decline in producer prices in the Eurozone slowed from -3.4% to -3.2%, contrary to expectations of an acceleration to -3.5%. This indicates that, while likely to decrease, inflation in Europe may do so more slowly than anticipated. As such, it seems increasingly likely that the European Central Bank will soon conclude its interest rate cut cycle.
Additionally, employment in the United States increased by only 146,000, significantly below the forecast of 180,000, which is insufficient to maintain labor market stability.
All this data points toward growth for the euro. However, the market remains stagnant, primarily because tomorrow's U.S. Department of Labor report looms, and investors appear unwilling to take risks prematurely. Secondly, the euro is under pressure from the political crisis in France. Yesterday, the National Assembly passed a vote of no confidence in the government, and time will now be needed to form a new administration.
The market will likely continue its stagnation today, even with the release of Eurozone retail sales data, which is expected to show a slowdown in growth from 2.9% to 2.5%. If yesterday's data fails to impact the market, a retail sales report alone will likely be insufficient. The market clearly remains focused on tomorrow's U.S. Department of Labor report.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
