Flash Spanish CPI reading for November was released today at 8:00 am GMT. Report was expected to show an acceleration from 3.5 to 3.7% YoY. Actual report showed an unexpected slowdown from 3.7 to 3.2% YoY. On a monthly basis, CPI inflation came in at -0.4% MoM while market expected +0.1% MoM.
EUR moved lowered in a knee-jerk move with EURUSD painting a fresh daily low near 1.0975. However, the move was completely erased later on and now the main currency pair is trading higher compared to pre-release levels.
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