Preliminary data on inflation and GDP in the euro area

• Core consumer price index (CPI) (y / y),  fact 1.1%,  forecast  1.0%,  previous value  0.9%.
• Consumer Price Index (CPI) (y / y) (July), fact 2.1%, forecast 2.0%, previous value 2.0%.
• GDP (q / q),  fact  0.3%,  forecast  0.4%,  previous value 0.4%.
• GDP (y / y),  fact  2.1%,  forecast 2.2%, previous value  2.5%.

The news block of preliminary data on inflation and GDP in the euro area was mixed. Thus, inflation accelerated the target growth in July, but at the same time, the eurozone’s GDP indicators slowed, thereby eroding optimistic data on inflation growth, and increasing concerns about the growth of the euro-zone economy.

Fig. 1. Eurozone GDP Chart (y / y)

As a result, these mixed news on the euro area can servebe as a signal for a reversal of the euro’s upward dynamics, which also confirms the achievement of a pair of EUR/USD significant resistance levels 1.1730-50.

Fig. 2. EUR/USD chart. The current price is 1.1730.

Read also: “On the Waves of the Forex: ECB – European Central Bank”

Hanzenko Anton

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