CPI inflation report for June from Norway was released today at 7:00 am BST. Data was expected to show a slowdown in headline and core inflation measures. Actual report turned out to be even more dovish with both inflation measures slowing more than expected.
Headline CPI inflation slowed from 3.0% to 2.6% YoY, while economists expected a slowdown to 2.9% YoY. Meanwhile, core CPI inflation slowed from 4.1% to 3.4% YoY, while a slowdown to 3.6% YoY was expected. Norwegian krone took a hit following the release, as it boosts chance for rate cuts from Norges Bank. NOK weakened over 0.2% against EUR, with EURNOK testing 11.50 resistance zone.
Source: xStation5
Hopes remain high for a US/ Iran deal, as stocks rally and bonds recover
Weak retail sales data from UK 🔎What's next for GBPUSD?
Daily summary: Peace agreement draft lifts the market
BREAKING: Mixed PMI from US
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
