EUR Inflation Stable Amid UK Unemployment Rise

Written by

Anthony Bull

Daily Currency Update

EUR Inflation Stable Amid UK Unemployment Rise

  • Today’s highlights include key data releases and notable speeches. The EUR Harmonized Index of Consumer Prices (YoY) for April remained steady at 2.4%, matching both the previous figure and expectations, indicating stable inflation in the Eurozone.
  • In the UK, the ILO Unemployment Rate for the three months ending in March rose slightly to 4.3%, up from 4.2%, signalling a minor increase in joblessness.
  • At 10:30 AM, the AUD Budget Release will provide insights into Australia’s fiscal policy and economic priorities.
  • Attention also turns to speeches by the Bank of England’s
  • Pill and Fed Chair Powell, which are expected to provide insights into future monetary policy directions and economic outlooks.
  • GBP/USD trades at 1.2558, up 0.26% from the daily open of

1.2525. Despite UK unemployment rising to 4.3%, the pair maintains stability, hovering near the daily high of 1.2550.

Key levels to watch include 1.2484 and daily pivot points, with resistance at 1.2543 and support at 1.2505.

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