Eurozone inflation data amongst market movers today – Danske Bank

According to analysts at Danske Bank, the most important global release is the euro area inflation print and they expect core inflation was unchanged at 1.1% y/y, the level it has been fluctuating at since early 2017.

Key Quotes

“Underlying inflation is gradually moving higher, as wage growth has increased. We still do not expect the ECB to hike rates before 2019 at the earliest.”

“We have a packed calendar today, not least of all in the Scandi space. In Norway , we get the credit indicator and unemployment data this morning. The data are unlikely to change anything for Norges Bank, which we still expect to hike in September. In Denmark , we get the second estimate of Q2 GDP growth, the unemployment rate and wage growth.”