Latest data released by INSEE - 13 February 2018
- Prior +0.3% q/q
- Q4 wages +0.1% vs +0.2% q/q expected
- Prior +0.3% q/q
Softer wages data, but at the moment the market will not be too bothered by these data points. It's all about the yen trade and equities at the moment.
EUR/USD at session highs of 1.2329 on the day, as the dollar continues to stay weak. Meanwhile, EUR/GBP is at 0.8890 little changed on the day. EUR/JPY has fallen to 132.85, as the yen continues to gain further on the day.
Update: The softer headline on wages should be taken with a grain of salt. Overall, in 2017 wage growth was the highest since 2014 - and that's a positive note for the euro.
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