Daily Points

Scotiabank's daily update highlights upside inflation surprises in the Eurozone and Asia alongside a preview of upcoming North American labor data.

Key Takeaways

• 1.Eurozone inflation accelerated with headline CPI at 3.2% and core at 2.5%, supporting expectations for an ECB rate hike on June 11.
• 2.South Korean and Indonesian inflation surprised to the upside, likely leading to a hawkish stance and a potential July hike from the Bank of Korea.
• 3.The US labor market is showing signs of slack as the JOLTS job openings-to-unemployed ratio has remained under 1.0 for nine months.

Table of Contents

• KEY POINTS
• Light Macro Readings
• Canadian Jobs Preview

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