Aside from the ongoing Italian budget impasse, it’s been a relatively quiet week from the Eurozone, with little coming from a speech earlier in the week from European Central Bank chief, Mario Draghi, and little top-tier data to digest.
Regarding the latest inflation numbers, the Eurozone consumer price index core, year to year, came at 1.0 percent vs. a 1.1 percent read. Also, the Euro-Zone consumer price index estimate, year to year, showed 2.0 percent, precisely as the forecast. Given the recent slowdown in economic output from the Eurozone, combined with oil falling nearly a third in value over the past two months, it seems unlikely we will be getting to under the 2 percent target any time soon without a calming of trade tensions. EUR/USD pair trades at 1.1360 this morning.