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
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