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Eurozone Preliminary CPI rises to 2.2% YoY in July, beats estimates

According to Eurostat’s preliminary reading of the Eurozone CPI report, the annual figure came in at 2.2% in July, outpacing expectations of 2.0% while rising from June’s reading of 1.9%.

The core figures eased to 0.7% YoY in July when compared to 0.8% expectations and 0.9% recorded previously.

Key details (via Eurostat)

“Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in July (14.1%, compared with 12.6% in June), followed by food, alcohol & tobacco (1.6%, compared with 0.5% in June), services (0.9%, compared with 0.7% in June) and non-energy industrial goods (0.7%, compared with 1.2% in June).”

EUR/USD reaction

EUR/USD looks to extends gains above 1.1900 on the Eurozone economic data, currently trading around 1.1904, up 0.14% on the day.

Eurozone Preliminary GDP rebounds 2.0% QoQ in Q2 vs. 1.5% expected

The Eurozone economy rebounded 2.0% on quarter in the three months to June of 2021, beating 1.5% expected and -0.3% prior, the first estimate showed o
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US: Fed kept the steady hand… opens the door to QE taper – UOB

Senior Economist at UOB Group Alvin Liew assesses the latest FOMC event (Wednesday). Key Takeaways “The Federal Reserve as widely expected, kept its p
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