Reuters reported on Monday that the key market indicator on long-term inflation expectations in the eurozone fell below 2% for the first time since March.
Despite the inflation rate in the old continent has reached a record level, with an annual figure of 8.6% in Juneand that there are still no signs that it will peak, inflation expectations have returned below 2%.
With the increased chances of recession in the eurozoneamid a worsening gas crisis, there appears to be little respite for the common currency.
“Nord Stream I, the largest pipeline carrying Russian gas to Germany, begins its annual maintenance on Monday. Flows are expected to stop for 10 days, but markets fear a prolonged shutdown due to the war in Ukraine and that could disrupt plans to fill storage for the winter,” Reuters reports.
Source: Fx Street
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