On Tuesday, the euro recorded slightly lower against the dollar in a waiting market. A lot has already been said by various central bankers. Today, a small boost could come from the German inflation dates for June, although we think that the euro area inflation rate that will appear tomorrow could have more impact.
We expect that the market is also looking forward to an appearance today by the president of the European Central Bank Christine Lagarde. We will also pay close attention to the American job dates for June with developments in the private sector on Wednesday and in the entire American labour market on Friday..
Japanese retail sales in May declined on a monthly basis, but less than in April. On an annual basis, there was an increase of more than 8 percent in May, which was less than the increase in April of almost 12 percent.
French consumer confidence in June rose to 102, for which 100 were foreseen. Consumer confidence in the euro area as a whole was further increased to 3.3 negative in a final measure, a position already reported in an earlier estimate. In May, the index was down 5.1.
In Germany inflation appears this afternoon in June, in the United States house price developments in April and consumer confidence in June, as measured by the Conference Board.
The German rate of inflation is assumed to be 0.4 per cent on a month-to-month and 2.3 percent on an annual basis, compared with euro 0.5 per cent and 2.5 per cent a month ago.
Furthermore, the chairman of the Federal Reserve of Richmond Thomas Barking will speak on Tuesday.
The euro was down 0.2 percent on $ 1.1903 on Tuesday. The European currency recorded 0.1 percent higher at 0.8603 British pounds. The British pound fell 0.3 percent on Tuesday and stood at 1.3838 dollars. The dollar recorded unchanged at 6,4538 Chinese yuan. The dollar today was flat at 1.0959 yen.