Posted 11/29/2023, 1:39:36 PM
German Inflation Slows Again as Broader EU Weakness Looms
- German CPI dropped to 3.2% year-over-year in November, representing a further decline from October's 3.8% print
- The month-on-month decline of 0.4% was sharper than the -0.2% estimate
- EU inflation data is due tomorrow, with estimates indicating another drop in headline and core inflation measures
- Declining EU activity could accelerate economic headwinds, posing a threat to the Euro
- Hawkish Fed comments preceded dollar selling off; US PCE data and Powell comments could further influence EUR/USD direction