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Eurozone deflation, PMI slump point to ECB action, yet euro is soaring
The flash prints for November inflation are due out of the Eurozone on Tuesday (10:00 GMT) along with a host of other data that should provide the latest glance on how the economy is faring. The inflation numbers are expected to reveal that the euro area experienced falling prices again in November, while the final PMI readings will probably confirm that business activity shrank during the month. The deteriorating economic conditions come as the euro is flirting with the key $1.20 level and policymakers at the European Central Bank are pondering their next move. The pandemic-induced depression-like downturn has ... (full story)