Eurozone CPI y/y comes in at 3.2% against 2.9% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
Eurozone CPI y/y was reported at 3.2%, surpassing the consensus forecast of 2.9%. This outcome represents a 10.3% surprise compared to expectations. The actual figure also increased from the previous reading of 2.8%.
Measured market reaction after 15 minutes showed varied movements for the euro. EURAUD moved -0.9 pips, EURCAD moved -8.9 pips, EURCHF moved +6.3 pips, EURGBP moved -3.1 pips, EURNZD moved +3.9 pips, and EURUSD moved -7.0 pips. EURJPY experienced a significant move of +91 pips. For context, the median 1-hour move after past releases is 9 pips for EURAUD, 7 pips for EURCAD, 5 pips for EURCHF, 5 pips for EURGBP, 10 pips for EURNZD, and 5 pips for EURUSD. The median 1-hour move for EURJPY is 7 pips. The observed moves for most pairs, excluding EURJPY, are currently small relative to their typical 1-hour median moves.