Flash Eurozone headline CPI for November came in 2.3% YoY in line with expectations and higher than 2% previously
- Headline CPI MoM came in -0.3% vs -0.2% exp. and 0.3% previously
- Flash core CPI came in 2.7% YoY vs 2.8% exp. and 2.7% previously
Italian CPI prelim: 1.4% YoY (Forecast 1.4%, Previous 0.9%)
- Monthly prelim: 0.0% (Forecast -0.1%, Previous 0.0%)
Italian HICP prelim: 1.6% YoY (Forecast 1.4%, Previous 1.0%)
- Monthly prelim: 0.0% (Forecast -0.2%, Previous 0.3%)
Overall today, Eurozone CPI reading is quite dovish, may signal falling lower consumers' activity with rising odds of achieving 2% ECB inflation target in the first half of 2025. However, EURUSD is up almost 0.15% today on weakening US dollar.
Source: XTB Research, Bloomberg Finance L.P
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