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DailyFX European Market Wrap: Is European Food Deflation Finally Over?

DailyFX European Market Wrap: Is European Food Deflation Finally Over?

Jeremy Naylor, Contributor

Unilever and Nestle both report that food prices are beginning to improve showing that the years of deflation may finally be over in Europe.

Also the world's largest publicly traded hedge fund, London listed Man group, has seen record assets under management with the best quarterly inflows since 2011.

Are oil prices set to fall further? Jeremy Naylor looks at the 4 hour chart for US Crude oil which shows a flag pattern is developing which may see prices drop to around $48 a barrel?

Looking ahead, BOE Governor Mark Carney is set to speak later on today in Washington D.C. Tomorrow, PMI figures from the Euro-Zone for April are due out, and of course, traders continue to prepare for the French elections this Sunday.

--- Written by Jeremy Naylor, DailyFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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