Eurozone CPI in line with expectations

Eurozone CPI Estimate (Y/Y) Jun P: 2.0% (est 2.0%; prev 1.9%)

- CPI (M/M): 0.3% (est 0.3%; prev 0.0%)

- Core CPI (Y/Y): 2.3% (est 2.3%; prev 2.3%)

The EURUSD pair is correcting its upward momentum slightly after the CPI data release. However, the reading itself does not change the outlook for ECB policy in the near term, as the data was in line with expectations.

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