Despite the importance of the European inflation data that will be released today, it will not be possible to change the decision of the European Central Bank, which will be issued next week.
After some mixed flows in the markets yesterday, the dollar retreated as bond yields fell, although the risk mood in stocks waned as we look forward to trading in the European period today.
Month-end flows will remain a consideration, but there will be many things to watch on the agenda today, the most important of which will be the inflation data from the eurozone for May, which will be released at 12:00 pm Egypt time, and then later in trading in the United States, there are US Personal Consumption Expenditures price data that should also be focused on, as it is the Fed's preferred indicator for measuring inflation, and expectations are steady at 2.8% year-on-year.
But the highlight will be in Europe, where core annual inflation is expected to remain stable at 2.7%, and in any case, the reading We will get today will not change the ECB's decision next week. As for what the ECB may do after June, we will have to monitor the data in the coming months to see where the ECB is headed.
