Eurozone Preliminary CPIs overview
Eurostat will publish the first estimate of Eurozone inflation figures for February at 1000 GMT this Tuesday.
The headline CPI is anticipated to come in slightly softer at 1.2% YoY while the core inflation is seen up at 1.2% YoY during 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 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: “The Technical Confluences Indicator is showing that initial weak resistance awaits at 1.1162, which is the confluence of the Bollinger Band 15min-Upper and the Pivot Point one-month Resistance 1. The most significant cap is only at 1.1284, which is a cluster including the PP one-month Resistance 2, the Fibonacci 161.8% one-month, and the PP one-day R2.”
“Support awaits at 1.1093, which is the confluence of the 200-day Simple Moving Average, the Fibonacci 61.8% one-day, and the previous monthly high. Further down, additional noteworthy support is at 1.1035, which is where the BB 4h-Middle and the 50-day SMA converge,” Yohay adds.
About Eurozone Preliminary 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).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.