Brazil Inflation Stable, Spanish Unemployment Drops: Impact on Euro and Forex Market

One Million Trade - 2024-03-04 08:00:00

The data published for BRL and EUR indicate that the IPC-Fipe Inflation Index in Brazil remained stable from the previous month, while the Spanish Unemployment Change in the Eurozone decreased slightly from the previous data. These numbers suggest that inflation in Brazil is under control, but the unemployment situation in Spain is still a concern. In relation to the other main macroeconomic data, the high inflation in the Eurozone and the negative GDP growth in Germany could potentially impact the Euro's value against other currencies. Additionally, the decrease in the Spanish unemployment rate may provide some support for the Euro. The US economic indicators, such as the ISM Manufacturing PMI and the Nonfarm Payrolls, show mixed signals, which could lead to uncertainty in the forex market. The global economic situation remains fragile, with ongoing trade tensions and geopolitical risks adding to the uncertainty.

Currency sentiment: Neutral

Sentiment timeframe: Short term