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Strategies & Market Trends : Humble1 and Swing Trading Friends
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From: humble18/30/2024 7:09:09 AM
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Lou Weed
rdkflorida2

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Flation coming down everywhere:

Euro zone inflation dropped to a three-year low of 2.2% in August, flash figures from statistics agency Eurostat showed on Friday, boosting expectations for a September rate cut from the European Central Bank.

The decline from 2.6% in July was in-line with the forecast of economists polled by Reuters.

The core rate — excluding the more volatile components of energy, food, alcohol and tobacco — fell to 2.8% in August from 2.9% in July, also matching a Reuters poll.

The euro continued to slide against sterling following the release, trading 0.1% lower at 0.8408 pounds. The euro nudged 0.04% higher against the U.S. dollar to $1.1083 as investors gear up from a September rate cut from the Federal Reserve in its first step towards monetary easing in the current cycle.
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