EUR/USD: Eurozone August CPI revised down to 3.2%, core eases to 2.4%
The source reports no EUR/USD price move, pip figure or technical levels. The final August reading put Eurozone headline CPI at 3.2% y/y, slightly below the 3.3% expected. That is a mild downward revision, but inflation is still up from 2.9% in the prior month, and the headline pickup was driven by a jump in energy prices. Core CPI came in at 2.4% y/y, in line with expectations and down from 2.5% previously. The data show an uneven picture. Headline inflation has moved higher on energy, while underlying price pressures eased slightly. For EUR/USD traders, the softer core reading and the downward revision to headline limit the hawkish read-through from the headline increase. The euro's direction will likely depend more on how markets view the gap between energy-driven headline inflation and stable core inflation.
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