Eurozone Core CPI y/y comes in at 2.4% against 2.4% consensus

Eurozone Core CPI year over year was reported at 2.4%. This matched the consensus expectation of 2.4%. The previous reading for the metric was 2.5%.

Following the release, EUR pairs showed limited movement in the initial 15 minutes. EURAUD gained 6.1 pips, EURCAD rose 1.7 pips, EURCHF increased 0.6 pips, EURGBP was up 1.1 pips, EURJPY advanced 0.7 pips, EURNZD climbed 2.9 pips, and EURUSD saw a 2.6 pip increase. These moves are relatively small when compared to the typical median 1-hour moves observed after past Core CPI releases. For context, EURAUD typically sees a median 1-hour move of 9 pips, EURCAD 7 pips, EURCHF 5 pips, EURGBP 5 pips, EURJPY 7 pips, EURNZD 10 pips, and EURUSD 5 pips.