After the focus has been on the US side for the past two weeks, the Euro side could spark some action today ahead of Thursday's PMIs – the ECB releases its fourth quarter wage gauge. The economists of Commerzbank analyze how today's data could affect the Euro.
The Euro could suffer further downward pressure if wage data is somewhat lower
If today's wage data is slightly lower, the Euro could come under further downward pressure. However, the numbers would have to be quite low for the EUR to suffer a steeper decline. Ultimately, the large number of wage indicators points to a stabilization of wages rather than a sustained reversal of the trend.
Besides, If we see very strong wage growth today, the Euro could get a boostsince the recent statements by those responsible for the ECB would probably be seen with many more doubts.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
