Eurozone Preliminary CPI beats estimates with 0.3% YoY in June, EUR/USD uninpsired

According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at +0.3% in June, meeting expectations of +0.1% and +0.1% pre  |  30/06/2020 09:01

According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at +0.3% in June, meeting expectations of +0.1% and +0.1% previous.

The headline inflation had hit the lowest since June 2016 last month due to the coronavirus pandemic led reduced fuel and energy demand.

Meanwhile, the core figures steadied at +0.8% in the reported month when compared to +0.8% expectations and +0.9% previous.

Key details (via Eurostat)

“Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in June (3.1%, compared with 3.4% in May), followed by services (1.2%, compared with 1.3% in May), non-energy industrial goods (0.2%, stable compared with May) and energy (-9.4%, compared with -11.9% in May).”

The Eurozone inflation report comes a day after the German Prelim CPI data was released, which showed that the German consumer price inflation accelerated by 0.8% in June and moved a tad closer to the European Central Bank’s (ECB) rate target of just under 2% for the Eurozone as a whole.

FX implications

The acceleration in the headline Eurozone inflation figure fails to impress the EUR bulls, as EUR/USD keeps its range around 1.1220, down 0.20% on the day. The souring risk sentiment boosts the greenback at the expense of the single currency.

 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on finance
and other asset classes for Market Insight viewers

Back

Login to Market Insight Account

Your Market Insight account gives you access to the tools that we offer our customers including our
Technical Studies & Sentiment for your accounts.

Forgot Password?

Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

Create a Market Insight's Account

Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

register_ty

Thank you!

Welcome to Market Insight family!

You have succesfully completed the registration.
We will send you an e-mail to give you some
instructions and our Terms and Conditions!
Our account representatives will be contacting you as
soon as possible. If you have any further questions
please do not hesitate to mail us via info@marketinsight.com