In today’s briefing:
- EUR Inflation Watch: A Dovish Surprise in the Making
EUR Inflation Watch: A Dovish Surprise in the Making
- We received the first inflation evidence from the Euro area already earlier today as the German regional office in Brandenburg released the preliminary October numbers printing at 0.0% MoM.
- That is a very soft reading, fitting hand in glove with our dovish EUR-flation view, and it looks favorable both in unadjusted and seasonally adjusted terms.
- A reasonable expectation (based on seasonal patterns + trend) would be to expect a 0.2-0.3% MoM print in Brandenburg for October, so it strengthens our case for a material dovish surprise.
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