Euro zone consumer confidence was unchanged in July from June, indicating economic growth may be stabilizing going into the third quarter, figures released on Monday showed.
The U.S. and euro zone economies remain a world apart and growth data due in the coming days will only highlight the widening gap, suggesting that monetary policy will continue to move in opposing directions on the two sides of the Atlantic.
World stocks hit a one-month high on Wednesday as a bullish outlook from the head of the U.S. central bank and rising company earnings buoyed the mood, lifted the dollar and sent safe-haven gold to a one-year trough.
Annual inflation in the 19 countries sharing the euro currency rose to 2.0 percent in June, European Union statistics office Eurostat said on Wednesday, confirming an earlier flash estimate.
The chief of Germany’s central bank, Jens Weidmann, warned the government of increasing risks of the economy cooling when he spoke at a July 6 cabinet meeting, business newspaper Handelsblatt reported, citing government sources.
World stocks rose for a second consecutive week on Friday as investors prepared for an expected run of strong earnings in the United States, although fears about the U.S.-China trade conflict kept gains in check and pushed the dollar higher.
European Union’s top court granted six French banks an exemption from holding capital against deposits parked with a state-owned fund, overturning a decision by the European Central Bank.
Euro zone interest rates will remain at their current level for as long as needed to raise inflation and the European Central Bank’s guidance should be seen as “open-ended”, ECB policymakers concluded in June according to minutes of their meeting published on Thursday.
ECB defended its 2.6 trillion-euro bond-buying program before EU’s top court from accusations it was bankrolling govts and endangering taxpayer money.
Belgium hopes to sell bonds with super long maturities soon, while bankers say several other euro zone governments and state-linked bodies may follow suit as the European Central Bank mulls pushing long term borrowing rates even lower.