Daily Alert – Wednesday 1st June 2022: Eurozone inflation supports hawkish ECB

Mark NugentDaily Alert, June 2022

Daily Alert – Wednesday 1st June 2022: Eurozone inflation supports hawkish ECB

Good morning.

Yesterday saw Eurozone headline and core inflation beating expectations. This will bolster the ECB in their new-found hawkishness. Earlier today, German Retail Sales missed expectations. It’s almost as if the endless narrative about inflation stops people buying stuff.

The JPY continues down. My AUDJPY long trade is nicely in the money.

As sanctions disrupt Russian oil supply, OPEC+ will be meeting tomorrow to discuss allowing fellow cartel members to make up the shortfall. This would put some downwards pressure on oil pricing.

We have bank holidays here in the UK tomorrow and Friday. We will be back on Monday with your Trading Plan for week 23.

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