Outlook Yesterday’s data on European deflation (core at the lowest rate ever, 0.7% y/y, and CPI, 0.8%) was not a flash in the pan and is still being talked about. Part of the issue is the divergence among members, with Germany at a “safe” 1.2% but Greece and Cyprus posting negative numbers. We don’t have Greek data but Cyprus is -2.3% in Dec. Other southern tier countries are not good—Spain has 0.3% and Italy, 0.2%. Today’s retail sales, up the most since 2001, are an anomaly. How bad is it in
Reported by FXstreet.com 11 hours ago.
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