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Eurozone HICP inflation falls as expected- EUR/USD steadies near session lows
The latest gauge of Eurozone inflation has now been released. As covered here earlier, the markets were expecting this to fall to an annualised rate of 1.8%, from a prior reading of 2.2%. The rate has matched estimates. The core rate is in line too, at 2.7%. Now ahead of this report the EUR/USD had rebounded from an earlier test of 1.1100, to around 1.1120. However, just ahead of the release it had fallen to below 1.11, hitting a new session low at 1.1098. The reaction to this data has seen it not fall back further yet, as this outcome was probably priced in down here?
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