The European Central Bank is widely anticipated to hold its policy rates steady and lay the groundwork for possible rate cuts later in the year. Higher commodity prices and spillover effects from the delayed U.S. rate cut may sway policymakers into postponing rate cuts in the Euro Area.
European markets extended weekly losses after investors adjusted their rate-cut expectations. Eurozone retail sales declined for the 17th month in a row as consumers battled elevated interest rates and a high cost of living.
Producer prices in the Euro Area declined for the tenth month in a row after energy prices fell from a high base. Private sector activities expanded for the first time in ten months after the strength in the service sector overshadowed the ongoing weakness in the manufacturing sector.
Overall inflation in the eurozone unexpectedly eased in March, but service inflation held steady at an elevated pace. The jobless rate in the currency union fell to a record low in February, and the youth jobless rate held steady for the fourth month in a row.
European stock markets hovered below record highs after investors returned from the Easter holiday break. Inflation expectations moderated in the eurozone. The UK home price gain accelerated in March.
German retail sales declined for the fourth month in a row after consumers retrenched to basics following high inflation and elevated borrowing costs. The UK's economy barely grew in 2023 after contracting in two quarters in a row.
European markets edged higher, and indexes in Frankfurt and Paris traded in record territory. Spain's consumer inflation accelerated in February due to rising fuel and electricity costs. Sweden holds rates, lowers the inflation outlook, and lifts economic growth projections.
European markets edged higher in cautious trading, and Spain confirmed its GDP accelerated in the fourth quarter. Investors are looking forward to the release of inflation updates from France and Italy later in the week.
European market indexes held steady near record levels as investors reviewed the latest monetary policy announcements from major central banks. Bond yields drifted lower, and the euro and the British pound edged higher against the U.S. dollar.
European markets traded near record highs as investors reviewed the latest monetary policy announcements from the central banks of the U.S., Switzerland, and Norway. European Union passenger car sales in February jumped by 10%.
German producer price inflation slowed for the eighth month in a row in February. The UK's consumer price inflation slowed in February, but the core rate of inflation stayed sharply higher than the central bank's target rate.
