Latest data released by Eurostat - 31 July 2019
- Prior +1.3%
- Core CPI +0.9% vs +1.0% y/y expected
- Prior +1.1%
Headline inflation comes in within estimates but core inflation slips more than expected and back below +1.0% y/y. That doesn't really feed into much confidence about inflationary pressures in the euro area and reaffirms the ECB's dovish rhetoric last week.
EUR/USD holds near lows for the day at 1.1145 currently, though still within a 20 pips range as traders are anticipating the Fed decision later today.
