The annual inflation rate stands at 0.2% in the euro-zone in June according to the flash release. This is as expected. Core inflation is at 0.8%, also as predicted and the unemployment rate is at 11.1%. No surprises.
EUR/USD is marginally higher after the publication, but hardly recovering from the early slide.
Expectations officially stood on the Consumer Price Index (CPI) Â standing at 0.2% y/y in the initial read for June, after +0.3% in May. Core CPI was also predicted to slide to 0.8% from 0.9% y/y. The unemployment rate wss expected to remain unchanged at 11.1%.
EUR/USD was sliding from the highs after the amazing recovery tomorrow (see 5 reasons). The Greek drama continues.
Earlier, Germany reported a lower than expected drop in unemployment. Nevertheless, Germany enjoys a strong labor market.
Tension continues mounting towards the Greek referendum on Sunday, dubbed “Greferendumâ€.
