The dollar shows broad gains (DXY 102.87, EUR/USD 1.092, USD/JPY 146.1). The eco calendar today is again rather thin. ECB inflation expectations and the ZEW economic confidence might influence intraday trends but are no game changers. ECB’s Villeroy will speak in Davos. The US calendar only contains the Empire manufacturing survey. Fed’s Waller will speak on the economy. Even as US yields are gaining a few bps this morning, last week’s price action keeps the downtrend in place, especially at the short end of the curve. The US 2-y yield needs to regain the 4.40% area to call off the downside alert. On FX markets, first USD resistance/euro support is coming in at 1.0877.
The consequences of the coronavirus pandemic and sanctions imposed on Russia have led to an explosion in prices worldwide. In Germany, annual inflation rose to 7.3 percent in March.
Im Europavergleich liegen die Lebenshaltungskosten in Österreich im Mittelfeld, sie sind aber höher als in Deutschland. Das Preisniveau liegt um fünf Prozent über dem des nördlichen Nachbars.
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