ECB Bulletin: Data and survey information point to somewhat weaker Eurozone growth ahead

Dhwani Mehta FXStreet

The European Central Bank (ECB) released its economic bulletin following its July monetary policy meeting, with the key highlights noted below.

Prolonged uncertainty is dampening economic sentiment, notably in the manufacturing sector.

Drop in the global services output PMI in Q2 raises risk of a more broad-based deterioration in the global growth outlook.

Data and survey information point to somewhat weaker euro zone growth in the coming quarters.

Indicators point to positive euro zone employment growth, steady consumption growth.

The EUR/USD pair remained confined with its recent trading range, now heading higher towards 1.1230 region amid broad-based US dollar weakness.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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