EURUSD: Sell in a safe zone
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European stock markets traded in a mixed fashion Monday, weighed by weak German retail sales but with investors awaiting the release of key eurozone growth and inflation data.
At 03:55 ET (07:55 GMT), the DAX index in Germany traded largely flat, the CAC 40 in France climbed 0.1%, while the FTSE 100 in the U.K. traded 0.2% lower.
Key eurozone data in spotlight
The week has started on a negative note Monday after the release of disappointing retail sales from Germany, illustrating the current economic difficulties suffered by the eurozone's largest economy.
German retail sales fell 0.8% on the month in June, weaker than the 0.2% rise expected, an annual drop of 1.6%.
The ECB raised interest rates to a 23-year high last week, and President Christine Lagarde indicated during the subsequent press conference that future decisions would be data-dependent.
At the next meeting in September, “there could be a further hike of the policy rate or perhaps a pause,” she told Le Figaro newspaper Sunday. “A pause, whenever it occurs, in September or later, would not necessarily be definitive.”
This brings into focus key eurozone growth and inflation data, due later in the session.
The flash eurozone GDP is seen rising 0.2% on the quarter in the second quarter, an annual gain of 0.5%, while annual eurozone consumer inflation is forecast at 5.3% for July, from 5.5% the previous month.
At 03:55 ET (07:55 GMT), the DAX index in Germany traded largely flat, the CAC 40 in France climbed 0.1%, while the FTSE 100 in the U.K. traded 0.2% lower.
Key eurozone data in spotlight
The week has started on a negative note Monday after the release of disappointing retail sales from Germany, illustrating the current economic difficulties suffered by the eurozone's largest economy.
German retail sales fell 0.8% on the month in June, weaker than the 0.2% rise expected, an annual drop of 1.6%.
The ECB raised interest rates to a 23-year high last week, and President Christine Lagarde indicated during the subsequent press conference that future decisions would be data-dependent.
At the next meeting in September, “there could be a further hike of the policy rate or perhaps a pause,” she told Le Figaro newspaper Sunday. “A pause, whenever it occurs, in September or later, would not necessarily be definitive.”
This brings into focus key eurozone growth and inflation data, due later in the session.
The flash eurozone GDP is seen rising 0.2% on the quarter in the second quarter, an annual gain of 0.5%, while annual eurozone consumer inflation is forecast at 5.3% for July, from 5.5% the previous month.
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The trend of EURUSD is going very right
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