The European stock exchanges are starting to open higher, EuroStoxx50 futures and Frankfurt Dax +0.7%. The focus today is on US inflation data due in the early afternoon, which could either bolster or dampen expectations on the Fed’s moves. A strong slowdown is expected in May, from +4.9 to +4.1% on an annual basis, while core inflation, which does not consider energy and food prices, is expected to drop from +5.5% to +5.2%.
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