Eurozone Inflation Data

• Core Consumer Price Index (CPI) (y/y) (July), 0.9% fact, 0.9% forecast.
• Consumer Price Index (CPI) (y/y) (July), fact 1.0%, forecast 1.1%.
• Consumer Price Index (CPI) (m/m) (July), fact -0.5%, forecast -0.4%.

Data on consumer inflation in the eurozone for July fell, showing a slowdown in inflation in the eurozone. At the same time, the previous inflation figures ​​were revised upwards, which partially mitigated the negative impact on the euro.

Fig. 1. Eurozone Consumer Price Index Chart (CPI) (y/y)

The euro did not actually respond to the published data, which correspond to the existing dynamics and statistical error. The EUR/USD pair remains in the upward correction phase after the decline. Significant resistance is located at: 1.1120 and 1.1140, support: 1.1090 and 1.1070.

Fig. 2. The EUR/USD chart. Current price – 1.1100

Read also: “Euro (EUR) – Features of trading on crosses”

Hanzenko Anton

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

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