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Euro Area inflation rate confirmed at 2.6% in February

March 18, 2024 10:29 am
The annual inflation rate in the Euro Area was confirmed at 2.6% in February, final data by Eurostat showed on Monday. It has been the lowest rate since November 2023, but it was still above the European Central Bank’s 2% inflation objective. In February, energy prices went down 3.7% year-on-year compared with a 6.1% slump […] Read more

GBP/SEK: Krona edges down ahead of Swedish CPI data

March 13, 2024 10:39 am
The GBP/SEK currency pair was a notch firmer on Wednesday, after data revealed UK economy had expanded 0.2% month-over-month in January, in line with market consensus, and ahead of Swedish consumer inflation report due out tomorrow. The largest positive contribution to the GDP came from the services sector, as it registered a 0.2% growth following […] Read more

EUR/GBP little changed as UK GDP growth matches estimates

March 13, 2024 8:08 am
The EUR/GBP currency pair was mostly steady in early European trade on Wednesday, after rebounding from a three-week low of 0.8499, as the latest data revealed UK economy had expanded 0.2% month-over-month in January, in line with market consensus. The largest positive contribution to the GDP came from the services sector, as it registered a […] Read more

USD/ZAR hovers above six-week low with US CPI in focus

March 12, 2024 10:13 am
The USD/ZAR currency pair lost ground on Tuesday, as market players awaited the key US CPI report that may provide further clues on the timing of the Federal Reserve’s first rate cut. Annual headline consumer inflation in the United States probably remained steady at 3.1% in February, according to market consensus. Annual core CPI inflation […] Read more

Switzerland consumer morale decreases in February

March 11, 2024 9:59 am
Consumer morale in Switzerland weakened in February, with the gauge of confidence coming in at a reading of -42.3, down from -41.1 in January. The latest figure was considerably below the long-term average level, the State Secretariat for Economic Affairs said. The figure reflected heightened concerns over consumers’ personal financial situation and the Swiss economy’s […] Read more

EUR/NOK edges lower ahead of ECB rate decision

March 7, 2024 11:18 am
The EUR/NOK currency pair was a notch weaker on Thursday following Norway’s manufacturing data and ahead of the outcome of the ECB’s March policy meeting. Norwegian manufacturing production stalled in January compared to a month earlier, data by Statistics Norway showed. That followed a 0.3% increase in December. In annual terms, the nation’s manufacturing output […] Read more

EUR/AUD comes off 15-week high as Australia exports hit 10-month high

March 7, 2024 9:05 am
The EUR/AUD currency pair extended a pullback from recent 15-week high on Thursday following Australia’s trade figures for January and ahead of the outcome of the ECB’s March policy meeting. Australia’s trade surplus was reported to have widened to AUD 11.027 billion in January from a revised down AUD 10.74 billion in December. Exports rose […] Read more

EUR/CAD confined in tight range with ECB meeting in focus

March 7, 2024 7:28 am
The EUR/CAD currency pair traded within a tight range on Thursday, as market players awaited the outcome of the ECB’s March policy meeting. The European Central Bank is largely expected to leave the main refinancing operations rate unchanged at a 22-year high of 4.5% and the deposit facility rate – at an all-time high of […] Read more

AUD/CAD hits 1-week high as slowing GDP growth adds to RBA cut case

March 6, 2024 8:24 am
The AUD/CAD currency pair firmed to a one-week high on Wednesday, after data revealed below-forecast GDP growth in Australia and ahead of the outcome of the Bank of Canada’s March policy meeting. Australia’s economy grew 0.2% quarter-on-quarter in Q4, following a revised up 0.3% growth in Q3 and below market consensus of 0.3%. It has […] Read more

Euro Area inflation eases less than forecast, EUR/USD flat

March 1, 2024 10:25 am
Euro Area’s annual consumer inflation rate slowed to 2.6% in February from 2.8% in January, the preliminary data by Eurostat showed. Market consensus had pointed to a larger drop to 2.5%. February’s rate has been the lowest in three months, but it still remained above the European Central Bank’s inflation objective of 2%. Last month, […] Read more