Eurozone Prelim GDP and CPIs overview At 0900 GMT, the first estimate of the Eurozone inflation and second-quarter GDP figures will be reported. The consensus amongst traders expects the bloc’s economic growth to come in a tad weaker at 0.2% inter-quarter in Q2, while on an annualized basis, is expected to arrive at 1.0%. Meanwhile, the headline CPI is anticipated to drop to 1.1% y/y, compared to 1.3% growth seen previously while the core inflation is seen lower at 1.0% y/y during the reported month vs. 1.1% last. How could affect EUR/USD? At the press time, the EUR/USD pair trades flatlined near 1.1155 levels, having reversed from 1.1162 highs after the Spanish Q2 preliminary GDP rate arrived at 0.5% q/q vs. 0.6% expected. From a technical perspective, a positive surprise in both the Eurozone GDP and CPI data could push the EUR/USD pair towards the last Thursday’s highs of 1.1189. A break above the last could open doors for a test of the 1.1200 level. On the flip side, disappointing numbers could drag the spot back towards the 2019 lows of 1.1102. The reaction to the macro news is likely to be limited ahead of the all-important FOMC decision, with a 25 bps Fed rate cut widely expected. Key Notes Eurozone: GDP and Inflation amongst market movers today – Danske Bank EUR/USD analysis: Holds steady near mid-1.1100s, awaits the key FOMC decision Federal Reserve Preview July 30-31 FOMC: Is this a rate cycle? About Eurozone Prelim GDP The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish). About Eurozone Prelim CPIs The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD struggles near weekly lows, focus on Canadian GDP/FOMC FX Street 4 years Eurozone Prelim GDP and CPIs overview At 0900 GMT, the first estimate of the Eurozone inflation and second-quarter GDP figures will be reported. The consensus amongst traders expects the bloc's economic growth to come in a tad weaker at 0.2% inter-quarter in Q2, while on an annualized basis, is expected to arrive at 1.0%. Meanwhile, the headline CPI is anticipated to drop to 1.1% y/y, compared to 1.3% growth seen previously while the core inflation is seen lower at 1.0% y/y during the reported month vs. 1.1% last. How could affect EUR/USD? At the press time, the EUR/USD pair trades… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
