Market Updates: Eurozone Final CPI is Out and it’s Not Looking Good
Arslan Butt•Thursday, January 17, 2019•1 min read
Folks as we spoke earlier, Eurostat was due to release the Eurozone CPI data and it’s finally out. I must say, it’s quite disappointing for the Eurozone.
As per the report, the Euro area annual inflation rate came out as 1.6% in December 2018, down from 1.9% in November. A year earlier, the rate was 1.4%. European Union annual inflation was 1.7% in December 2018, down from 2.0% in November. A year earlier, the rate was 1.7%.
The EUR/USD has shown a bearish bias on the release of the event. The pair may face immediate support at $1.1370 and resistance at $1.1410.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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