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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE DATA
With 92% of the countries by weight having reported their flash June estimates, Eurozone HICP is set to print 5.5% Y/Y for June by our calculations, vs 5.6% consensus coming into this week's national inflation readings, but it's a close call between 5.5-5.6%
- 5.5% remains a decent estimate for core eurozone HICP (same as consensus coming into the week), with the readings this morning perhaps leaning the final estimate closer to an unrounded 5.4%.
- On headline: Downside headline HICP misses for Italy, France and the Netherlands and a soft reading for Belgium (no consensus) have offset a slightly above-expected reading for Spain, an in-line Germany, and a high Austria (no consensus) print.
- On core: The large Netherlands undershoot on inflation (with all major categories softening), and probably suggesting core dynamics weighed to the downside; French services cooled 0.1pp Y.Y to 2.9%, but on the other hand manufactured goods prices rose 0.2pp to 4.3% (INSEE noting a delayed start in Summer manufacturing sales this year).
Source: Eurostat, National Statistics Agencies, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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