During the recent meeting, European officials discussed ways to enhance the region’s competitiveness relative to both the US and China. The NYT notes the debate centered on how President Trump’s policies have created an opportunity for Europe to strengthen its global position.
Frank Elderson, a member of the European Central Bank’s (ECB) Executive Board, stressed the need to factor in climate change consequences when shaping economic policy. He warned that ignoring environmental risks could trigger serious economic challenges.
Australia’s consumer spending surged in May, breaking a three-month streak of weakness. According to the Australian Bureau of Statistics, the household spending indicator gained 0.9% following a flat April and a drop by 0.1% in March.
The single currency’s nearly 14% rise this year has helped curb inflation in the EU. However, further euro appreciation could push consumer prices below the ECB’s 2% target and hurt the competitiveness of export-oriented companies.
An increase of the indicator value may contribute to the rise in quotes of EUR.
The EUR publication is expected
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European Union
Australia
Central Bank interest rate
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Inflation
Business confidence