Suddenly deflation has been solved in Switzerland, but amazingly remains a threat in the rest of Europe and most of the world. EUR/CHF continues to plunge, down to 1.3385.
As if on cue, German preliminary inflation just hit the wires, lower than the market expected. It came in flat for the month of June and up just 0.8% year over year. But no deflation worries in Switzerland…hmmm.
The economic calendar gets more interesting as the week wears on. ADP on Wednesday, ISM Thursday and Payrolls on Friday are the highlights. Buckle up…
