fall by 13.2% year-on-year in July, the sharpest drop since January 1987, suggesting inflationary pressures acting on the eurozone's largest economy are retreating rapidly.
That said, the state of North Rhine Westphalia, Germany's most populous state, reported CPI rising 0.5% in August, an annual increase of 5.9%, above expectations, suggesting the report for Germany as a whole could have upside pressure. It is expected to rise 6.0% on an annual basis, a drop from 6.2% the prior month.
rose 0.5% on the month in August, slightly above expectations, while the annual figure came in at 2.6%.ECB President hinted that the region’s central bank will pause its rate-hiking cycle in September at the press conference that followed its last meeting, a view that was hardened by a sharper-than-expected contraction in eurozone business activity.The major indices on Wall Street closed sharply higher Tuesday, with the tech-heavy
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