Eurozone Preliminary HICP inflation steadies at 2% YoY in July vs. 1.9% expected
The Eurozone Harmonized Index of Consumer Prices (HICP) rose 2% over the year in July, at the same pace seen in June, the official data released by Eurostat showed Friday.

The Eurozone Harmonized Index of Consumer Prices (HICP) rose 2% over the year in July, at the same pace seen in June, the official data released by Eurostat showed Friday.

The market forecast was for a 1.9% print.

The core HICP advanced 2.3% year-over-year (YoY) in July, following a 2.3% growth in June, below the 2.2% estimates.

On a monthly basis, the bloc’s HICP inflation arrived at 0% in July, compared with June’s 0.3%.

The core HICP dropped 0.2% month-over-month (MoM) in the same period, following a 0.4% growth in June.

The European Central Bank’s (ECB) inflation target is 2.0%. The old continent’s HICP inflation data significantly impacts the market’s pricing of the ECB's future interest rate cuts.

Key details from the Eurozone inflation report (via Eurostat)

Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in July (3.3%, compared with 3.1% in June), followed by services (3.1%, compared with 3.3% in June), non-energy industrial goods (0.8%, compared with 0.5% in June) and energy (-2.5%, compared with -2.6% in June).

EUR/USD reaction to the Eurozone inflation report

The Euro faces the heat from mixed Eurozone inflation data, with EUR/USD attacking 1.1400 as of writing. The pair is down 0.09% on the day.

Euro PRICE Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Japanese Yen.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.11% 0.33% -0.12% 0.17% 0.11% 0.60% 0.55%
EUR -0.11% 0.31% -0.21% 0.12% 0.14% 0.34% 0.50%
GBP -0.33% -0.31% -0.50% -0.19% -0.17% 0.25% 0.21%
JPY 0.12% 0.21% 0.50% 0.28% 0.25% 0.60% 0.67%
CAD -0.17% -0.12% 0.19% -0.28% -0.08% 0.43% 0.39%
AUD -0.11% -0.14% 0.17% -0.25% 0.08% 0.42% 0.50%
NZD -0.60% -0.34% -0.25% -0.60% -0.43% -0.42% 0.06%
CHF -0.55% -0.50% -0.21% -0.67% -0.39% -0.50% -0.06%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

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LIVE QUOTES

Name / Symbol
Chart
% Change / Price
GBPUSD
1 D change
+0%
0
EURUSD
1 D change
+0%
0
USDJPY
1 D change
+0%
0

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