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Survey Shows ECB Inflation Expectations Fall, Powell In Focus

EMERGING MARKETS
  • Expectations for euro area inflation over the next 12 month and 3-year horizons have fallen, according to the ECB’s latest Consumer Expectations Survey, while expectations for nominal income growth over the next year continued to rise. Consumers' median expectations for inflation over the next 12 months edged down to 4.9% from 5.0% in January, the survey showed while median expectations for inflation three years ahead declined significantly to 2.5%, from 3.0% in the previous month.
  • The USD index has kept a narrow trading range overnight and sits moderately firmer on Tuesday. Focus ahead turns to the appearance of Fed's Powell in front of the Senate as he presents his semi-annual testimony later today. He appears in front of the lawmakers at 1500GMT/1000ET; however a release of text is possible ahead of time. There are no tier-one data releases for the duration of the Tuesday session.
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