Various EU inflation data above ECB target level : vimarsana

Various EU inflation data above ECB target level


5/31/2021 10:18:36 AM GMT
Notes/Observations
- CPI reading from Spain and Germany saw the YoY above ECB target level.
- Various German States saw their May inflation data registered its biggest increase since fall 2018 mainly due to the base effect from higher energy prices.
- China PBoC takes action to curb recent CNY currency strength.
- US and UK markets closed for holidays.
Asia:
- China May Manufacturing PMI (Govt Official) registered its 14th month of expansion (51.0 v 51.1e).
- China PBOC sets the Yuan reference rate at 6.3682 for its strongest fixing since mid-May 2018).
- Former China PBOC official Sheng Songcheng said 'fast' yuan appreciation probably will not last, suggests the Yuan is 'overbought'; says the rise in CNY suggests short-term speculation.

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