Euro Remains Pressured ahead of Inflation Release, Busy Calendar Ahead
Euro remains pressured as markets are awaiting the highly anticipated HICP inflation flash estimate in Dec from Eurozone. ECB comments took a drastic turn with ECB member Constancio and Vice President Papademos voicing out support for rate cuts should inflation ease further. HICP is expected to ease from 2.1% yoy to 1.8% yoy in Dec which is consistent with ECB's definition of price stability of 'below 2%, close to 2%' and that should give much room for ECB to cut rates to revive the deepening recession in the Eurozone.
Monday, January 5, 2009
Thursday, January 1, 2009
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