Eurozone ZEW economic sentiment June 58.4 vs 59.6 exp

• 55.2 prev
• Eurozone labour costs Q1 y/y +0.9% vs +1.6% prev revised up from +1.4%
• wages in Eurozone Q1 +1.5% vs 2.0% prev revised up from +1.9%

Weaker than expected ZEW but higher than prev. Euro rally dampened by weaker German reading but still holding in there

Wages growth weaker than prev too which is never a good thing

EURUSD 1.3575 EURGBP 0.8003 EURJPY 138.50

Eurozone ZEW June