EUR/SGD Trading forecasts and signals

July inflation in the eurozone countries amounted to 2.2% in annual terms, which is 0.3 percentage points higher than the growth rate of consumer prices in the previous month. This is evidenced by the final assessment of price dynamics published by Eurostat. The indicator corresponds to the preliminary data and the forecast of the surveyed analysts. In July last year, inflation in the eurozone was recorded at the level of 0.4%. The assessment of the price dynamics in monthly terms also did not change. Eurostat confirmed that in July, consumer prices increased by 0.7% compared to the previous month. At the same time, a month earlier, inflation was 0.9%. In the EU countries, inflation, calculated in monthly terms, has not changed. And compared to July last year, the price growth accelerated to 2.5% from 2.2% in June. In all countries that are part of the eurozone, consumer prices rose in July. At the same time, Estonia, Poland and Lithuania became the leaders in terms of ...

According to the Bundesbank, the recovery of the German economy from the negative consequences of the coronavirus pandemic can be achieved by this autumn, if vaccination is accelerated, which will allow lifting quarantine restrictions. A significant easing of the restrictions still in place in the country, according to the German central bank, is the main condition for accelerating the economic recovery in the third quarter to a level that will surpass pre-crisis GDP growth in the fall. For this to happen, significant progress must be made in vaccinating the population. The Bundesbank expects that by the end of the second quarter of this year, industrial production will significantly increase and construction volumes will significantly expand, and in the next quarter, we should expect a strong recovery in the service sector. At the same time, experts of the Bundesbank believe that the reduction in the value-added tax may increase inflation to 4% by the end of the year, which will not be observed for ...