Inflation figures from France and Germany fail to deliver EUR support following the ECB's shift in policy. U.S inflation figures are unlikely to be ignored, however.
Inflation was in focus on Tuesday, with finalized German and French inflation figures released early in the European session.
In June, the annual rate of inflation softened from 2.5% to 2.3%, which was in line with prelim figures. Month-on-month, consumer prices rose by increased by 0.4%, following a 0.5% increase in May.
According to Destatis,
The annual rate of inflation picked up from 1.4% to 1.5% in June, which was in line with prelim figures. Month-on-month, French consumer prices increased by 0.1% following a 0.3% rise in May. This was down from a prelim 0.2%.
According to Insee.Fr,
Ahead of today’s trade data, the EUR had risen to a pre-stat and current day high $1.18753 before hitting reverse ahead of the numbers.
In response to today’s numbers, the EUR rose to a post-stat high $1.18655 before falling to a post-stat and current day low $1.18412.
At the time of writing, the EUR was down by 0.13% to $1.18451.
U.S inflation figures for June. We will expect plenty of market interest in the numbers…
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.