Euro drops

The Euro had a lot of pressure after the Euro-Zone September consumer price report indicating inflation dropped for a 4th consecutive month encouraging the ECB to remain on hold. The 0.3 percent drop since one year ago in the headline reading still stayed the same from August but a drop to 1.2 percent from 1.3 percent in the main part is proof that deflationary pressure stays. Certainly, throughout the month, there was no notable action in the prices in spite of anticipation of a 0.1 percent increase as gains in food costs were balanced by that they drops in energy and housing. The ECB in their monthly bulletin indicated anticipated low inflationary pressure throughout the medium term.

This entry was posted on Monday, May 17th, 2010 at 7:40 am and is filed under Forex News . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.