The Euro added only 3 base points against the US Dollar after the reports on the European consumer inflation were published. Other data also failed to determine the leading sentiment in EUR/USD, while the currency pair entered into a symmetrical triangle at short, trading in a narrow range between the 1.194 and 1.196 levels.
The Eurostat released its final inflation data for the month of August, showing that the headline Index rose 1.5% in line with estimates, while the core figure also matched forecasts with a 1.2% increase. The Euro is set to remain strong, while the only occasion able to undermine the European single currency's stability is expected to be a speculation ahead of the Germany's Federal Election on September 24.
| Historical Data Table: EU Final CPI y/y | |||||
| Date | 31.05.2017 | 30.06.2017 | 31.07.2017 | 17.08.2017 | 18.09.2017 |
| Actual | 1.40% | 1.30% | 1.30% | 1.30% | 1.50% |
| Forecast | 1.50% | 1.20% | 1.30% | 1.30% | 1.50% |
| Initial Reaction on Main Pairs | |||||
| Open Price | Close Price | % Change | |||
| EUR/USD | 1.19393 | 1.19422 | 0.02% | ||
| EUR/GBP | 0.88027 | 0.88061 | 0.04% | ||
| EUR/CHF | 1.1461 | 1.14622 | 0.01% | ||
| EUR/JPY | 132.925 | 132.988 | 0.05% | ||