When are the Eurozone Flash CPIs and how could they affect EUR/USD?

Eurozone Flash CPIs overview

Eurostat will publish the first estimate of Eurozone inflation figures for September at 0900 GMT today. The headline CPI is anticipated to hold steady at 1.0% y/y while the core inflation is seen a tad higher at 1.0% y/y during the reported month vs. 0.9% last.

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 30 pips in deviations up to 1.5 to -2, although in some cases, if notable enough, a deviation can fuel movements of up to 45-50 pips.

How could affect EUR/USD?

Yohay Elam, FXStreet's own Senior Analyst offers important technical levels ahead of the key release: “EUR/USD enjoys support at 1.0887, which is the convergence of the Bollinger Band one-hour Lower, the previous day's low, the previous hourly low, the Pivot Point one-week Support 1, the Simple Moving Average 10-15 minutes, and the BB 4h-Lower. If it loses that cushion, it could target 1.0825, which is where the Pivot Point one-month Support 1 and the PP daily S1 hit the price. Looking up, fierce resistance awaits at 1.0939, which is the confluence of the all-important Fibonacci 23.6% one-week, the PP one-day R1, and the Fibonacci 23.6% one-month.” 

Key Notes

Eurozone HICP to hold steady at 1.0% in September – TD Securities

Eurozone inflation and PMIs amongst market movers today – Danske Bank

EUR/USD forecast: Bears turn cautious near descending channel support, Euro-zone CPI eyed

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).