Eurozone CPI came in hotter than expected this morning, hitting a record high of 9.1% year-over-year. Despite worries about surging energy prices (up 38% y/y, even before cold winter weather arrives) driving the continent into recession, the ECB will be forced to act aggressively to fight inflation at next week’s monetary policy meeting; indeed, economists at both...
EUR/USD made headlines for briefly dropping below parity (1.00) for the first time in nearly 20 years in mid-July, then again throughout most of last week’s trade, but the pair is starting this week’s trade on a bullish note as it peeks above that key psychological level.
Interestingly, the pair’s RSI indicator is showing a bullish divergence with rates over the...
