Eurozone inflation data amongst market movers today – Danske Bank

Analysts at Danske Bank point out that in the euro area, we have the final HICP figures for July released and will be a key economic release for today’s session.

Key Quotes

“The initial estimates showed headline and core inflation at 2.1% and 1.1%, respectively. Judging from the country figures, we do not expect any revisions but we will look for evidence of the ECB's claim that underlying inflation pressures are boarding and are becoming more resilient.”

“In the US, University of Michigan consumer confidence for August is on the agenda. Consensus is for a further small increase to 98.0 but it will be particularly interesting to see whether inflation expectations, which the Fed is monitoring closely, will recover from their fall in July. However, even in the case of a miss, we do not think it would necessarily lead the Fed to postpone the expected September hike.”

“Brexit talks continue in Brussels and EU chief negotiator Michel Barnier may hold a news conference.”

“Tomorrow, German Chancellor Angela Merkel and Russian president Vladimir Putin will meet in Berlin to discuss Syria, Ukraine and the Nord Stream 2 pipeline.”