nsk data on the development of consumer and industrial prices confirmed the continued existence of deflation. This shows that the growth of the human economy is not strong at all, which is a sign of the general weakness of global demand. The weekly data from the US on new claims for unemployment benefits ended in line with expectations at 217,000. The number of standing dogs continued to grow for seven weeks in a row. This confirms the continuing cooling of the labor market there and indicates that people who have been drinking about work have a problem with quickly finding a new one.
The ECB representative only continued the previous rhetoric.The ECB is assuming that the rates for the current year will remain unchanged for some time, and the debate regarding rate cuts is currently not in the balance. According to the previous statement of the governor of the Bundesbank, J. Nagel, it could be in place from the middle of the fifth year. We assume that ECB rates will remain unchanged for a full five years. ECB President Lagarde and a number of representatives of the US Fed, including his father Powell, will give a speech this evening.
Today, the euro was able to erase the losses of the dollar after the publication of weekly statistics from the USA and in the middle of the European session there is no change. Of the Central European ones, the Czech koruna sent me the most, when it strengthened by 0.5% against the euro and corrected losses from the beginning of the week in connection with weak data from the domestic economy. The Polish zloty and the Hungarian zloty sent me up by 0.2%.
By Kevin Tran Nguyen