Frankfurt The euro started an eventful trading day a little weaker on Thursday. In early trading, the common currency cost $ 1.2165, a little less than the night before. The European Central Bank (ECB) set the reference rate on Wednesday at $ 1.2195.
Two major events are on the program on Thursday. In Europe, the ECB decides on its monetary policy direction. The main topic will be the pace at which the billion dollar securities purchases of the corona crisis program PEPP will be continued. The pace has been increased since spring in order to curb rising capital market rates. A majority of analysts expect the increased pace to be maintained in the summer.
In the US, inflation data is expected for May. Surprisingly, inflation rose significantly to more than four percent in April, and the US Federal Reserve’s inflation target of two percent was clearly exceeded. This exacerbated existing fears of inflation. A renewed rise in the inflation rate is expected for May.
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