Eurozone July preliminary CPI +1.1% vs +1.1% y/y expected

Latest data released by Eurostat - 31 July 2019

• Prior +1.3%
• Core CPI +0.9% vs +1.0% y/y expected
• Prior +1.1%

Headline inflation comes in within estimates but core inflation slips more than expected and back below +1.0% y/y. That doesn't really feed into much confidence about inflationary pressures in the euro area and reaffirms the ECB's dovish rhetoric last week.

EUR/USD holds near lows for the day at 1.1145 currently, though still within a 20 pips range as traders are anticipating the Fed decision later today.