EURO COULD GET A BOOST ON VERY STRONG WAGE GROWTH – COMMERZBANK
After the focus has been on the US side for the past two weeks, the Euro side may cause some action today ahead of Thursday's PMIs: the ECB releases its wage indicator for Q4. Economists at Commerzbank analyze how today’s data could impact the EUR.
Euro could suffer further downside pressure if wage data comes in a little lower
If today's wage data comes in a little lower, the Euro could come under further downside pressure. However, the figures would probably have to be quite low for the Euro to fall more sharply. After all, the large number of wage indicators points to a stabilization of wages rather than a sustained trend reversal.
On the other hand, if we see very strong wage growth today, the Euro could get a boost, as the recent statements by ECB officials would probably be viewed with much more doubt.
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