Preliminary June CPI rises 2.8% year-over-year
The eurozone’s preliminary consumer price index increased 2.8% in June from a year earlier. This is lower than the expected 3.0% rise.
Prior to this, the CPI had risen 3.2%. The core CPI, which excludes volatile food and energy prices, rose 2.4% from a year ago, missing the expected 2.5% increase.
The yen has hit a 40-year low against the USD, prompting traders to watch for potential intervention. Meanwhile, the SEC is eyeing ETF rules amid a $16T boom, with novel products facing scrutiny.
In other news, MSTR is looking to revamp its Bitcoin strategy, which could lead to a 500% surge, despite potential BTC sales. Additionally, Rocket Lab’s $8B Iridium buy is fueling the space race appetite, with traders eyeing growth versus SpaceX.