EUR/USD little changed as Eurozone Prelim CPI steadies at 1.0% y/y in August

Dhwani Mehta FXStreet

According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at 1.0% in August, meeting expectations of 1.0% and 1.0% previous.

Meanwhile, the core figures also remained unchanged at 0.9% in the reported month when compared to 1.0% expectations and 0.9% previous.

Key Details (via Eurostat):

“Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in August (2.1%, compared with 1.9% in July), followed by services (1.3%, compared with 1.2% in July), non-energy industrial goods (0.4%, stable compared with July) and energy (-0.6%, compared with 0.5% in July).”

The Eurozone inflation report comes a day after the German Prelim CPI data was released, which showed that the German consumer price inflation accelerated by only 1.4% and remained well below the European Central Bank’s (ECB) rate target of just under 2 percent for the Eurozone as a whole.

Separately, Eurozone July unemployment rate was reported at 7.5% vs. 7.5% last.

About Eurozone Prelim 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).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

AUD/USD jumps to 0.7050, fresh one-month top after hot Australian CPI

AUD/USD attracts buyers for the second straight day on Wednesday, rising to a fresh high since September 23 during the Asian session. A hot Australian CPI print reaffirmed bets for an imminent RBA rate hike in November and boosted the Australian Dollar. Meanwhile, the US Dollar pauses after a three-day rally to a near two-week high ahead of the crucial FOMC rate decision, lending additional support to the currency pair.

USD/JPY sticks to modest gains above 157.50 as traders await Fed, BoJ meetings

USD/JPY attracts buyers for the third straight day, recovering further from a one-month low ahead of Wednesday’s FOMC decision and the BoJ policy update on Friday. Meanwhile, expectations that the BoJ may hold off on aggressive rate hikes weigh on the Japanese Yen, and the US Dollar advances to a nearly two-week high, supporting the currency pair.

Gold comes under pressure, still above $4,000 ahead of FOMC

Gold now gives away part of its recent two-day rebound, although a breach below the key $4,000 mark per troy ounce remains elusive for now. Rising crude oil prices keep the precious metal under pressure ahead of the Fed’s interest rate decision later on Wednesday.

Zcash's bullish momentum mounts on steady ETF inflows, retail confidence

Zcash extends steady recovery above $1,300 on Wednesday, approaching a key resistance near $1,373. Grayscale’s ZEC-focused Exchange-Traded Fund sees persistent buying pressure, with six straight days of inflows, including more than $3 million on Tuesday.

Markets hold their breath as Fed sets to keep rates steady

Markets enter Fed day with a unified message: the rate hold is fully priced in, but the direction of the next several weeks is still unknown. Kevin Warsh’s speech later today will determine whether markets extend the current risk‑on drift or reverse sharply into defensive positioning.

Anthropic pledged $270 billion to Amazon, Google, and Microsoft. Here's who actually gets paid

Anthropic owes Amazon, Google, and Microsoft at least $269.4 billion for computing power, even if it uses less. All three sell its models and handle its billing, and Amazon and Google own stakes and lend it money, so they get paid regardless of how the IPO goes. The Dario Amodei-led Anthropic filed its initial public offering (IPO) on Monday, seeking a listing on the Nasdaq under the ticker ANT.