A slew of economic data is set to roll out on Thursday, including preliminary euro zone CPI numbers and U.S. personal consumption data, with markets hankering for further inflation relief as central bank policy meetings march closer into view. Reports on Wednesday showed inflation slowed at a disappointingly sluggish pace in Germany and Spain, encouraging bets that the European Central Bank (ECB) may have to raise rates again in September. Expectations are still hovering around a 50-50 chance of another ECB hike, with the focus on preliminary euro zone CPI data due later in the day.
The German share price index DAX graph is pictured at the stock exchange in FrankfurtA slew of economic data is set to roll out on Thursday, including preliminary euro zone CPI numbers and U.S. personal consumption data, with markets hankering for further inflation relief as central bank policy meetings march closer into view.
Expectations are still hovering around a 50-50 chance of another ECB hike, with the focus on preliminary euro zone CPI data due later in the day. Estimates point to a slight cooling, to a year-over-year level of 5.1%. The core PCE for July due later in the day is expected to show a mere 0.2% increase from the previous month, while estimates put annual core numbers at 4.2%, up from 4.1%.
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