Latest data released by INSEE - 4 January 2019
- Prior -0.2%
- CPI +1.6% vs +1.8% y/y expected
- Prior +1.9%
- HICP +0.1% vs +0.1% m/m expected
- Prior -0.2%
- HICP +1.9% vs +2.0% y/y expected
- Prior +2.2%
Misses across the board there and that's not going to help with confidence that the inflation outlook is still holding up. If this persists into 2019, expect growing calls for the ECB to push back its forward guidance on rate hikes. Let's see how this impacts the Eurozone core inflation data later in the day.
EUR/USD sits steady at 1.1400 currently. EUR/GBP holds near flat levels at 0.9019.
