European Economics Preview: Eurozone Jobless Data Due

Eurozone Labor Cost Growth Exceeds Expectations

The euro area hourly labor cost growth accelerated more than expected in the first quarter, which aligns with trends revealed by other indicators and the European Central Bank's view that wage pressures are set to remain elevated for some time before entering a downward trajectory next year. Hourly labor cost grew at a faster pace of 5.1 percent on a yearly basis.

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Eurozone Industrial Output Falls Unexpectedly In April

Eurozone industrial production dropped unexpectedly in April on falling intermediate goods output, official data showed Thursday. Industrial output logged a monthly fall of 0.1 percent, marking the first drop in three months, Eurostat said. Production was forecast to grow 0.2 percent after rising 0.5 percent in March.

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ECB's Lane Says Restrictive Monetary Stance Must Be Maintained

The European Central Bank, which last week cut interest rates for the first time in five years, will have to maintain a tight policy stance given the high uncertainty and sticky inflation in the euro area, the bank's chief economist Philip Lane said Tuesday.

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Lagarde Says ECB May Hold Rates Steady For More Than One Meeting

Eurozone interest rates are likely to remain unchanged for sometime as the European Central Bank President Christine Lagarde said restrictive policy has not ended and the bank may wait several meetings before easing rates again. Interest rates may not follow a linear downward path, Lagarde said in Paris in a joint interview to several European newspapers.

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Eurozone Investor Confidence Highest Since Early 2022

Euro area investor sentiment continued its recovery trend in June to hit the highest since early 2022 but the momentum remained weak as the economy still struggle to reach the level that prevailed before the outbreak of the war in Ukraine. The economic confidence index rose to +0.3 in June from -3.6 in May. The reading was forecast to remain negative in June, at -1.5.

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Eurozone Economy Recovers On Household Spending, Trade

The euro area economy recovered as initially estimated in the first quarter, driven by household spending along with favorable net exports, the latest data from Eurostat showed on Friday. Gross domestic product grew 0.3 percent sequentially, reversing the 0.1 percent fall in the final quarter of 2003. The rate confirmed the second estimate published on May 15.

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German Industrial Output Logs 0.1% Fall; Exports Rise

Germany's industrial production registered a marginal fall on falling construction output, while growth in both exports and imports accelerated more than expected, official data revealed on Friday. Industrial output edged down 0.1 percent on a monthly basis in April, Destatis said Friday. This follows a 0.4 percent drop in March. Although the pace of decrease softened from March.

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ECB Cuts Rates By 25 Bps As Expected On Improving Inflation Outlook

The European Central Bank lowered interest rates by a quarter basis point on Thursday, in line with expectations, citing an improvement in the inflation outlook. The Governing Council, led by ECB President Christine Lagarde, cut the main refinancing rate by 25 basis points to 4.25 percent.

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EURUSD	1.07217	GBPUSD	1.26938	AUDUSD	0.66159
USDJPY	157.738	USDCAD	1.3735	USDCHF	0.88948