Eurozone inflation data

• Core Consumer Price Index (CPI) (y/y), fact 1.1%, forecast 1.0%.
• Consumer Price Index (CPI) (y/y) (June), fact 1.2%, forecast 1.2%.

Preliminary data on the consumer price index (CPI) in the euro area on an annualized basis showed an unexpected increase of 0.3%. The figure is very significant, given the recent decline.

Fig. 1. Eurozone core consumer price index (CPI) (y/y) in the 

Since this is preliminary data, and the overall market dynamics remains restrained before the G20 summit, the strengthening of the euro with very positive  inflation data in the eurozone remains restrained. EUR/USD is limited to resistance levels of 1.1390-1.1400, support: 1.1370-50.

Fig. 2. EUR/USD. Current price – 1.1380

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Hanzenko Anton

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

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