Page 6 - Bert Colijn News Today

The Euro US Dollar (EUR/USD) exchange rate is falling today, following a below-forecast set of Eurozone inflation data.

Inflation fell faster than expected in the EU with economists suggesting that the ECB would soon turn its attention to rate cuts.

Prices rose at an annual rate of 2.4 percent in November among the countries that use the euro, continuing a broad decline in energy and food inflation.

Consumer price growth in the 20 nations sharing the euro currency dropped to 2.4% in November from 2.9% in October, well below expectations for 2.7%

The price of crude oil fell after a cartel of oil-producing nations led by Saudi Arabia surprised the market by issuing a statement that failed to include an expected pledge to cut production by another million barrels per day.

Eurozone inflation eased more than expected to the weakest in more than two years in November and the unemployment rate remained unchanged at a lower level, raising hopes that the European Central Bank may cut interest rates earlier than currently forecast.

HCOB’s PMI, compiled by S&P Global and seen as a good guide of overall economic health, ticked up to 47.1 from October’s near three-year low of 46.5 but remained firmly below the 50 mark separating growth from contraction

The ongoing downturn in the euro area private sector suggested that the region might have entered a shallow recession in the final quarter of 2023, according to the latest purchasing managers' survey results released by S&P Global on Thursday.

The ongoing downturn in the euro area private sector suggested that the region might have entered a shallow recession in the final quarter of 2023, according to the latest purchasing managers' survey results released by S&P Global on Thursday.

The outlook for eurozone retail sales is improving, but slowly, ING economist Bert Colijn writes in a note. Trade continued falling in September, confirming a…