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BREAKING: Eurozone flash CPI in line with expectations 🎯

10:01 AM 1 October 2024

10:00 AM BST, Eurozone  - flash Inflation Data for September:

  • CPI: 1.8% actual YoY vs forecast 1.8% YoY; previous 2.2% YoY;
  • Core CPI: 2.7% actual YoY vs forecast 2.7% YoY; previous 2.8% YoY;
  • CPI: -0.1% actual MoM vs forecast 0.0% MoM; previous 0.1% MoM;

 

The flash CPI reading came in as expected. However, the surprising decline in monthly dynamics could provide an argument for the market to maintain the current pace of rate cuts. As a result, the initial reaction has supported the euro against the US dollar. EUR/USD is currently facing resistance at the 50% Fibonacci retracement level. Today's American ISM data, set to be released at 1:00 pm, will be crucial for the currency pair’s movement.

 

 

 

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