When are the Eurozone Prelim CPIs and how could they affect EUR/USD?


Eurozone Prelim CPIs overview

Eurostat will publish the first estimate of Eurozone inflation figures for August at 0900 GMT today. The headline CPI is anticipated to hold steady at 1.0% y/y while the core inflation is seen a tad higher at 1.0% y/y during the reported month vs. 0.9% last.

Deviation impact on EUR/USD

Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction is likely to remain confined between 10 and 30 pips in deviations up to 1.5 to -2, although in some cases, if notable enough, a deviation can fuel movements of up to 45-50 pips.

How could affect EUR/USD?

Yohay Elam, FXStreet's own Senior Analyst offers important technical levels ahead of the key release: “The 2019 low of 1.1027 is critical support. It is followed by the psychologically important number of 1.1000, and then by 1.0960, which was a support line in 2017. Further down, 1.0900 and 1.0810 are noteworthy.”

“Resistance awaits at last week's low of 1.1050. It is followed by 1.1090, which was a swing low on Thursday, and by 1.1115, which capped EUR/USD this week and also in the previous one,” Yohay adds.

Key Notes

Eurozone: Inflation data in focus today – TD Securities

ECB's Lautenschlaeger: It is much too early for a huge stimulus package

EUR/USD is at risk of breaking below 1.1027/1.10

About Eurozone Prelim CPIs estimate

The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD: Strong resistance lies at 0.6300

AUD/USD: Strong resistance lies at 0.6300

The marked sell-off in the US Dollar allowed AUD/USD to regain strong upside traction and reach multi-day highs in the area just below the key 0.6300 barrier at the beginning of the week.

AUD/USD News
EUR/USD: Bulls need to clear 1.0400 on a convincing fashion

EUR/USD: Bulls need to clear 1.0400 on a convincing fashion

In line with the rest of the risk-associated complex, EUR/USD managed to regain marked buying pressure and flirted with the area of three-week highs around 1.0430 on Monday.

EUR/USD News
Gold remains focused on all-time highs

Gold remains focused on all-time highs

Gold stays in positive territory above $2,700 on Monday as the improving risk mood makes it difficult for the US Dollar to find demand. Markets await US President Donald Trump's speech at the inauguration ceremony.

Gold News
Solana Price Forecast: Are US traders dumping Bitcoin and XRP for SOL?

Solana Price Forecast: Are US traders dumping Bitcoin and XRP for SOL?

Solana (SOL) price stabilized near the $250 support level on Monday, having declined 10% from its all-time high over the last 24 hours.

Read more
GBP/USD stays defensive below 1.2200, awaits Trump 2.0

GBP/USD stays defensive below 1.2200, awaits Trump 2.0

GBP/USD struggles to gain traction and trades slightly below 1.2200 in the second half of the day on Monday. Markets' nervousness ahead of US President-elect Donald Trump's inauguration drag the pair lower despite a broadly weaker US Dollar. 

GBP/USD News
Trusted Broker Reviews for Smarter Trading

Trusted Broker Reviews for Smarter Trading

VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures