Latest data released by Eurostat - 1 February 2019
- Prior +1.6%
- Core CPI +1.1% vs +1.0% y/y expected
- Prior +1.0%
Headline inflation slows to just +1.4% y/y but the story here is all about the core reading ticking higher to +1.1% y/y from +1.0% y/y seen in December. That will give the ECB some confidence that inflationary pressures aren't going away just yet and will help to ease worries after the readings seen from France, Germany and Spain earlier in the week.
EUR/USD inches to a session high of 1.1472 now while also backed by further selling in the pound on the cross. EUR/GBP at 0.8792 currently, also at session highs.
