Federal Reserve to Ease Rates? | Eurozone CPI Data Due
Published June 4, 2019
The St. Louis Fed president, James Bullard, recently remarked that a cut may be needed soon to counter trade war risks. Additionally, Federal Reserve Vice Chairman Richard Clarida stated that the central bank is prepared to ease if it is required. Market participants will be paying close attention to the remarks made by Jerome Powell, Federal Reserve Chairman, at a policy conference in Chicago later this morning.
There was disappointing data from the UK this morning, with retail sales declining the most on record in May. Sales slumped 2.7% in May, the largest drop ever recorded in the British Retail Consortium.
The euro area seasonally adjusted unemployment rate was 7.6% in April 2019, down from 7.7% in March 2019. This marks the lowest rate recorded in the euro area since 2008. The euro area received another disappointing data read as Eurostat’s flash reading of Eurozone CPI report came in at 1.2% in May, missing expectations of 1.3%. Meanwhile, core figures also dropped to 0.8% in the reported month when compared to 0.9% expectations and 1.3% previous.