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Euro-zone inflation confirmed at 0.5%, core at 0.8% in

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/USD  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.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.