Inflation data in the euro area

• Core consumer price index (CPI) (y/y) (Aug), fact  1.0%, forecast 1.0%.
• Consumer price index (CPI) (m/m) (Aug), fact 0.2%, forecast 0.2%.
• Consumer price index (CPI) (y/y) (Aug), fact 2.0%, forecast 2.0%.

The report on the consumer price index in the euro area for August fully coincided with expectations, without  impact on the dynamics of the single currency. The main indicators of consumer prices in the euro area remain at the same level, indicating the preservation of a moderately upward trend.

Fig. 1. The graph of the consumer price index of the eurozone

 

The euro did not actually react to the news, keeping a restrained growth dynamics against the US dollar, which is caused by a correction against Friday’s decline. In the absence of news and restrained negative dynamics of Europe’s background indices, the pair EUR/USD is limited in growth by resistance levels: 1.1650 and 1.1670.

Fig. 2. EUR/USD chart. Current price – 1.1650

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Hanzenko Anton

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