Latest inflation data now out

  • -0.2% prev
  • yy +0.2% vs +0.1% exp vs 0.0% prev
  • HICP mm +0.2% vs +0.1% exp vs -0.2% prev
  • yy +0.3% vs +0.2% exp vs +0.1% prev
  • CPI ex-tobacco Index 126.03 vs 125.90 exp vs 125.75 prev

A welcome uptick but a long way to go still and oil prices will continue to add downward pressure

EURUSD still around 1.0830 but with EURGBP now back above 0.7500 capping GBPUSD