The euro continues to weaken against the strong dollar and is trading around its lowest level in two months.
Eurozone inflation rate rose by 2% year-on-year in May, just above the European Central Bank’s target and the highest figure since October 2018. This rise was largely driven by rising energy prices which rose by around 13% YOY.
Balance of Trade figures were also released yesterday for several European countries. Italy saw a trade surplus, with exports surging by around 97% YOY. Spain saw a trade deficit, which does seem to be narrowing, as exports jumped by almost 72% YOY.
