Eurozone data

• Core consumer price index (CPI) (y / y),  fact of 1.0%, forecast 1.1%.
• Consumer price index (CPI) (y / y) (Aug), fact 2.0%, forecast 2.1%.
• Unemployment rate (July), fact 8.2%, forecast 8.2%.

Preliminary data on inflation in the euro area unexpectedly slowed by 0.1%, both in annual and monthly terms, putting a restrained pressure on the euro, which is already under pressure from risks amid the escalation of the trade conflict between the US and China

Eurozone CPI  (y/y)

 

Euro at the same time restrained response to weak data on inflation in the euro area. The market preferred to focus on increasing risks around the US trade confrontation and negative sentiment on the stock exchanges. The dynamics of the euro remains downward and is limited to support levels: 1.1650 and 1.1630.

EUR/USD chart. The current price is 1.1660.

Read also: “Elliott Waves: Zigzag and Plane”

Andre Green

Earn with the help of the trade service on the news Erste News!

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