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Forex Analysis

03/02/2015 08:37:11

Eurozone flash CPI could add further pressure to ECB despite January QE announcement

The release of the Eurozone flash CPI reading this morning certainly h

Craig Erlam, currency analyst at Oanda noted that while the early part of the first week of the month can sometimes be a little subdued, as traders show a little caution ahead of the ECB meeting on Thursday and the US jobs report on Friday, I’m not sure this week will be the same.

As he also explained, the release of the Eurozone flash CPI reading this morning certainly has the potential to cause a stir, with deflation in the region seen as one of the biggest threats to growth and the future stability of the monetary union. With the ECB having already announced the quantitative easing package at its January meeting I doubt it will have a big impact on Thursday’s meeting, but further decline in the rate may force the ECB into even bolder action.

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