BREAKING: EUR gains after Spanish CPI reading

08:03 29 June 2023

Spanish CPI report for June was released today at 8:00 am BST. Report was expected to show a slowdown in headline measure from 3.2 to 1.7% YoY. However, actual report showed a slowdown to just 1.9% YoY. On a monthly basis, inflation reached 0.6% MoM while market expected 0.3% MoM. EUR moved higher following the release and climbed back above 1.09. This further support euro after state-level data from Germany that was already released also showed an upside surprise. Data for whole Germany will be released at 1:00 pm BST today.

EURUSD jumped above 1.09 mark after higher-than-expected CPI reading from Spain. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back

Join over 1.6 Million investors from around the world