CPI inflation report for August for whole euro area was a key reading scheduled for the European morning today. However, as it was a revision, it was not expected to show any major deviations from preliminary readings. While core reading confirmed slowdown suggested by flash report, headline reading showed a slowdown compared to 5.3% YoY signaled in preliminary report. Nevertheless, it failed to trigger any major reaction on EUR market.
Euro area, CPI inflation for August
- Headline: 5.2% YoY vs 5.3% YoY in first release (5.3% YoY previously)
- Core: 5.2% vs 5.3% YoY in first release (5.5% YoY previously)
EURUSD barely saw any reaction to final CPI data and stays below short-term resistance in the 1.0695 area. Source: xStation5
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