Eurozone Inflation Data

• Core Consumer Price Index (CPI) (y/y) (May), fact 0.8%, forecast 1.0%.
• Consumer Price Index (CPI) (y/y) (May), fact 1.2%, forecast 1.3%.
• The unemployment rate (April), the fact of 7.6%, the forecast of 7.7%.

Preliminary data on the consumer price index (CPI) in the eurozone unexpectedly slowed down after almost a month of growth, indicating very restrained values ​​for the last period of time. The decrease in preliminary data on inflation in the EU is also associated with trade and political risks that remain in the market.

Fig. 1. Consumer price index (CPI) (y) in the eurozone

The euro on weak data on inflation in the eurozone slowed growth. A EUR/USD pair rebounded from the level of 1.1270-50, pointing to the possibility of forming a reversal of the correction after growth. It is worth noting the continued weakness of the American dollar, which supports the euro. Support levels: 1.1220 and 1.1200.

Fig. 2. EUR/USD chart. Current price – 1.1240

Read also: “Gold . Expectations for March 2019”

Hanzenko Anton

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