EZ data supporting no action from ECB - BBH

By FXstreet.com | Updated August 28, 2014 AAA

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman suggested that the data out of the euro-zone today was, on the margin, also supportive of the view that the ECB should hold fire on further action.



Key Quotes:



"M3 for July rose by 1.8% y/y, higher than the expected 1.5%."



"And the June figure was revised slightly higher to 1.6%. Moreover, lending contracted by 1.6% in July, less than the 1.8% contraction in June."



"Regional inflation figures for Germany came in a bit on the higher side, suggesting the risk for a surprise in the aggregate figure (released at 13:00 GMT) is tilted to the upside. Although Spanish CPI fell by the most since 2009 in August, it was marginally higher than feared."



"Flash CPI came at -0.5% y/y compared with expectations of -0.6%. German unemployment rates remained unchanged at 6.7% in August, as expected, but the unemployment count came in at +2K, against an expected -5K. Euro-zone consumer confidence was unchanged at -10, as expected."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: Expect Heavy Seas Between NFPs, ECB and RBA

  2. Forex News

    Trading Video: Expect Volatility for the Dollar, Equities, Euro...Everything

  3. Forex News

    FX CFTC report - TDS

  4. Forex News

    CFTC Commitment of Traders Report - TDS

  5. Forex News

    2,800 pips later, EUR/USD trades below 1.1200; bias continues bearish

Trading Center