No surprises from the final CPI read for June in the euro-zone: the consumer price index was confirmed at 0.5% while core CPI was confirmed at 0.8%. The final inflation read for June was expected to confirm a CPI of 0.5% and Core CPI of 0.8%, in line with the flash read. The headline number is at its lowest level since 2009 and the core figure is just 0.1% above the bottom.
EUR/USDÂ barely managed to lift its head above low ground and traded around 1.3530 towards the release. The pair is marginally higher after the publication.
The ECB set a negative deposit rate back in June and also announced a series of other measures to battle the low level of inflation and help growth in the old continent.
The euro has been on the back foot due to worries about a bank in Portugal. In the US, the Fed is moving very very slowly towards removing its stimulus. Janet Yellen eventually helped the US dollar.
We have quite a few important US figures later in the day. See how to trade the Philly Fed index with EUR/USD.
