27 days ago • Posted by Ajmir Omid

EU PPI up 31.4% #europe #stoxx50 #inflation

Eurozone Producer Price Index kept rising by 37.2% yoy, exceeding the previous highs. Nonetheless, the good news is that it was slower than forecasted. Today's print is the latest macro data point justifying an ECB policy normalization - stop APP and start raising rates. This morning, the Stoxx50 is recovering yesterday's losses, up 0.7%. Traders will be keeping an eye on the 3'760 support level, a move below which could send the index shooting lower.