The Euro peaks with PPI numbers and ECB statements
By Sumant Yerramilly
The Reason:
Today, the Euro rose upon the release of higher than expect PPI numbers. PPI measures the rate of inflation experienced by manufactures when purchasing goods and services.
|
Indicator
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Actual
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Forecast
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Previous
|
|
Euro PPI m/m
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0.4%
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0.3%
|
0.3%
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In addition, the European central bank’s president, Jean-Claude Trichet delivered a keynote speech in Brussels. “"This is no time for complacency…To realize the full benefit of the single currency, the liberalization of labor and a product market, as well as other structural reforms, is required" Trichet said. The ECB governing council meets on Wednesday and markets are expected to see a raise in interest rates from 3.75% to 4.00% and possible another 25 point increase in September. (Dow Jones Newswires)
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