Eurozone investors have seen the single state bloc take the mantle of ‘save haven’ in recent times as geo-political uncertainties across the globe have boosted European stocks and government treasuries.  Market participants have debated continually through 2016-17 the impact of woefully low inflation levels, but figures this morning show that the eurozone was able to hold the 1.5% it had registered the month previous, giving some comfort to a central bank that appears to be moving in a less ‘dovish’ direction. Although the print points to a degree of normalisation, the print should all but confirm Mario Draghi still needs more time and evidence that Inflation is moving in the right direction before the European Central Bank’s monetary stance can seriously change.

Anthony Kurukgy, Senior Sales Trader at Foenix Partners, comments on the Eurozone CPI print.

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