Spanish CPI YoY Flash (June): 2.2% (Forecast 2.1%, Previous 2.0%)
- CPI MoM Flash: 0.6% (Forecast 0.4%, Previous 0.10%)
Spanish HICP YoY Flash (June): 2.2% (Forecast 2.2%, Previous 2.0%)
- HICP MoM Flash: 0.6% (Forecast 0.6%, Previous 0%)
French CPI YoY Flash (June): 0.9% (Forecast 0.8%, Previous 0.7%)
- CPI MoM Flash: 0.3% (Forecast 0.1%, Previous -0.1%)
French HICP YoY Flash (June): 0.8% (Forecast 0.7%, Previous 0.6%)
- HICP MoM Flash: 0.4% (Forecast 0.2%, Previous -.0.2%)
French consumer spending MoM: 0.2% vs 0.1% exp. and 0.3% previously
EURUSD extends growth momentum after hotted than expected CPI prelim from France and Spain.
Source: xStation5
Although ECB's Klaas Knot noted today that an interest rate cut cannot be ruled out, he emphasized that the current level appears appropriate. The ECB is not scheduled to meet again for another month, and there are no expectations for any policy changes at that time. Markets are currently pricing in the possibility of rate cuts no earlier than December or January next year.

Source: Bloomberg Finance L.P.
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