Tag Archives: Eurozone

The Global Macro Pulse

The USD continued to strengthen, even as EURUSD held flat at 1.293 after the steep decline overnight.

Core rate up (no typo) to 0.9%

A more coherent government is a condition for progress, not a guarantee

No recession. No strong growth either.

Q2 GDP came in as expected – stagnation. July inflation confirmed at 0.4% y/y. 10-year Bund yield dipped below 1%

The yen couldn’t sustain early gains after a smaller-than-expected decline in Q2 GDP and is now flat on the day at 102.29 to the dollar.

The USD strengthened against the G10 in Asia. The NZDUSD was the main developed currency mover,

Italy in recession, German economy slowing down.

G10 FX was more subdued, but AUDUSD and EURUSD drifted down to 0.9299 and 1.3369 respectively while

AUDUSD moved up to 0.9324, in line with Friday’s highs, but EURUSD and USDJPY are basically flat at 1.3426 and

After German and Spanish data yesterday, the fall in Euro-area inflation to 0.4% y/y was no surprise.

The flash PMIs for July point to a continued recovery in the Euro-area economy.