Preliminary inflation figures for the Eurozone will also warrant investor attention on Tuesday. An unexpected pickup in inflationary pressures could sink investor expectations of a Q3 2024 ECB rate cut.
On Wednesday, finalized Euro area Services PMIs will need consideration. Revisions may garner the attention of the ECB. The services sector accounts for over 60% of the Euro area economy and remains an inflation bugbear for the ECB.
The German economy will be in the spotlight on Thursday and Friday. Factory orders and industrial production will be in focus. Weaker-than-expected figures could support investor hopes of a Q3 2024 ECB rate cut.
Beyond the economic data, the French Election results from Sunday and sentiment toward the July 7 run-off will influence buyer demand for the EUR/USD. However, investors should also monitor ECB commentary and consider the ECB monetary policy meeting minutes (Thursday).
The Pound
On Monday, finalized…
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