In the Eurozone, the EC confidence indices rose, although the industrial sector index came in slightly below expectations.
Meanwhile, the latest weekly initial unemployment claims figure rose to 219k from 216k. Overall, the data indicate that the Eurozone economy is gaining speed, while economic circumstances in the United States are deteriorating.
Against this backdrop, the dollar experienced some downward pressure yesterday. However, the greenback recouped the majority of its losses overnight.
In the Eurozone, the flash reading of HICP inflation is expected to jump to 2.5% in May from 2.4%. However, core inflation is expected to remain steady.
Similarly, US core PCE inflation is predicted to remain at 2.8% in April. In the United States, personal income and consumption data for April will also be available. Aside from the releases, month-end flows may affect currency markets.