Previous Trading Days Events 30.04.2024

Eurozone inflation held steady as expected in April. The ECB is expecting a rate cut on June 6, provided there is no surprise in wage or price developments, and Tuesdays data remained consistent with the path. Inflation in the 20 countries sharing the euro currency was reported at 2.4 in April, the same as in March and matching expectations.

Core inflation, a key measure watched by policymakers to gauge the durability of price pressures, slowed to 2.7 from 2.9. Rapid wage growth, the key component in services costs, remains a concern. Inflation has fallen quicker in the past year than the ECB had hoped though.

Potential rate cuts have dominated the discussion for months now, even if policymakers say they are still looking for more reassuring data, especially on wages.

Source httpswww.reuters.commarketseuropeeurozoneinflationsteadyaprilreinforcingecbratecutcase20240430

U.S. consumer confidence deteriorated in April according to the report released on the 30th of April, falling to its lowest level in more than 112 years amid worries about the labour market and income. The CB consumer confidence index fell to 97.0 this month, the lowest level since July 2022, from a downwardly revised 103.1 in March.

Confidence retreated further in April as consumers became less positive about the current labour market situation and more concerned about future business conditions, job availability, and income, said Dana Peterson, chief…