BREAKING: Spanish CPI lower than expected with higher GDP print 📌

08:00 AM BST, Spain - Inflation Data for September:

• Spanish HICP: actual 1.7% YoY; forecast 1.9% YoY; previous 2.4% YoY;
• Spanish HICP: actual -0.1% MoM; forecast 0.1% MoM; previous 0.0% MoM;
• Spanish CPI: actual 1.5% YoY; forecast 1.9% YoY; previous 2.3% YoY;
• Spanish CPI: actual -0.6% MoM; forecast 0.1% MoM; previous 0.0% MoM;
• Spanish GDP: actual 3.1% YoY; forecast 2.9% YoY; previous 2.9% YoY;

The inflation data for Spain comes in lower than expected, following the smaller-than-expected print from France. Both HICP and CPI came in below expectations, which once again provides an argument for faster ECB easing. The EUR/USD is trying to break the previous 15-minute low, after which the next level would be the 61.8% Fibonacci retracement.

Source: xStation