The flash estimates on the inflation data for the eurozone showed some optimism. Headline inflation increased 1.2% on the year ending June 2019. This was in line with market expectations. The core inflation rate also rose by 1.1% on the year in June, beating estimates of a 1.0% increase. The inflation data comes a few weeks ahead of the ECB meeting.
Euro Settles Flat Below $1.1400
The common currency held flat for a third consecutive day. This comes as price briefly tested the 1.1400 level before giving up the gains. We expect the currency pair to remain muted in the near term. The longer-term range of 1.1400 and 1.1200 remains in play. A breakout from this level will potentially confirm the upside bias in price.
