Eurozone Flash CPI EURUSD Impact Analysis


When are the Eurozone flash CPIs and how could they affect EUR/USD? Get an overview of this 4 April Eurozone Flash CPI EURUSD Impact Analysis.

4 April, GKFX – Eurostat will publish the Eurozone’s inflation first estimate for March at 09.00 GMT today. Consumer prices are seen accelerating to 1.4% on a yearly basis versus 1.1% seen previously. While the core figures are also expected to tick higher to 1.1% in the reported month.

Deviation impact on EUR/USD

Readers can find FX Street’s proprietary deviation impact map of the event below. As observed the reaction is likely to remain confined between 10 and 40 pips in deviations up to 1.5 to -3, although in some cases, if notable enough, a deviation can fuel movements of up to 50 pips.

4 April Eurozone Flash CPI EURUSD Impact Analysis

Haresh Menghani, Analyst at FXStreet explains,

“Technically, a follow-through weakness below the 1.2250-40 immediate support area is likely to accelerate the fall towards the 1.2200 key level, which has been offering strong support since mid-January. A convincing drop below the mentioned support would mark a bearish break below 2-1/2-month-old trading range and confirm that the pair might have topped out in the near-term.”

“On the flip side, sustained move back above the 1.2300 handle could get extended back towards the 1.2345-50 supply zone, above which the pair could break through the 1.2400 handle and head towards retesting the 1.2475 strong hurdle en-route the key 1.2500 psychological mark,”

Haresh adds.

About Eurozone flash CPIs estimate

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).

Disclaimer

This article 4 April Eurozone Flash CPI EURUSD Impact Analysis was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

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