Euro zone June unemployment has come in at 9.4%, up from a revised 9.3% in June (9.5% initially), but some way better than the median forecast of 9.7%. It’s still a 10-year high, but thank heavens for small mercies.
EUR/USD is fractionally firmer post release, but not soe’s you’d really notice, presently at 1.4095. Aforementioned support at 1.4085 has so far held the downside.
Meanwhile, Euro zone July inflation has come in at an estimated -0.6% y/y vs -0.1% in June and weaker than the median forecast of -0.4%. Doesn’t look like the ECB has to worry about building price pressures quite yet.
