US-Eurozone divergence gets new momentum

US-Eurozone divergence gets new momentum



3 грудня 2015 года
ICU

Yesterday, the widely discussed monetary divergence between the US and Eurozone economies was boosted by two events. First, consumer inflation in the Euro area was reported at 0.1% YoY, just below expectations of 0.2%. Such a low reading on inflation once again underlines that ECB monetary stimulus should be increased. Second, US Federal Reserve Chairperson Yellen, in a public speech, said that the US economy is strong and that inflation is expected to accelerate, giving a clear signal that the Fed will increase its policy rate this month. Overall, both reports forced the USD and euro in opposite directions. The dollar index (DXY) was above the 100 point threshold again this week, hitting its highest level since 2003. Meanwhile, the euro slipped 0.6% to 1.0569. This FX market move caused the RUB to decline 0.27%. The hryvnia's market rate rose 2.4% yesterday while its trade weighted value was up 2.7%.

Источник: ICU

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