Euro unemployment data big dampener: Mark Priest of ETX Capital
Mark Priest, senior trader with ETX Capital, says that labour market woes in the euro area have shown no signs of abating with the unemployment rate climbing to a new record high in April. Purchasing power has been held down by muted wage growth and fiscal squeezes, says Mr Priest. However, a low inflation level provides some scope for consumers to cheer up, he adds.
