EUR/USD remains defensive above 1.0950, ECB Economic Bulletin, US inflation eyed – by anilpanchal7 EURUSD ECB Inflation RiskAversion Currencies
for July superseded negative readings of the Consumer Price Index for the said month. That said, CPI declines to -0.3% YoY versus -0.4% YoY expected and 0.0% prior whereas the PPI improves to -4.4% YoY compared to -4.1% YoY market forecasts and -5.4% previous readings.
At home, Italy’s surprise tax on windfall profits of banks joined previously released German statistics to suggest the looming recession in the bloc’s powerhouse. Further, the global rating agencies’ downward revision to the US banks and financial institutions weighs on the risk sentiment and the EUR/USD price despite the latest corrective bounce.
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