Major European indices trade in the green.
STOXX Europe 600: +0.6%,
Germany’s DAX: +0.8%,
U.K.’s FTSE 100: +0.5%,
France’s CAC 40: +0.9%,
Italy’s FTSE MIB: +1.2%,
Spain’s IBEX 35: +1.1%.
Eurozone
May Unemployment Rate 6.2% (expected 6.3%; last 6.2%)
The European Central Bank’s policy forum in Portugal concluded, leading the market to believe that not just the Federal Reserve, but the Bank of England and the European Central Bank are also looking to pull back from giving constant forward guidance.
Germany
Chancellor Merz said that a pension overhaul will be complete by the end of the year, adding that income tax cuts amounting to about EUR10 bln are in the cards.
France
May government budget deficit EUR93.3 bln (last deficit of EUR69.6 bln)
Italy
May Unemployment Rate 5.0% (expected 5.1%; last 5.1%)
Spain
June Unemployment Change -28,700 (expected -40,800; last -36,300)
Swiss
June CPI 0.0% m/m (expected 0.1%; last 0.2%); 0.5% yr/yr, as expected (last 0.6%)