Spanish Inflation Figures Leave the EUR in the Red

by Warrior2

Economic data was limited to finalized inflation figures from Spain this morning. Downward revisions from prelims left the EUR in the red.

It’s a relatively quiet day on the Eurozone economic calendar today. Finalized Spanish inflation figures were in focus this morning.

Spanish Inflationary Pressures Build but Come in in Softer than Prelims

In January, consumer prices increased by 0.5% year-on-year, revised down from a prelim 0.6% increase. In December, consumer prices had fallen by 0.5%.

The Harmonized Index for Consumer Prices increased by 0.4%, revised down from a prelim 0.6% rise. In December the index had fallen by 0.6%.Advertisement

Market Impact

Rounding off a disappointing week on the economic data front, the EUR had slipped to a current day low $1.21123 ahead of the numbers.

While revised downwards, the figures reaffirmed a pickup in inflationary pressure at the turn of the year.

In response, the EUR briefly revisited $1.2118 levels before easing back.

For the EUR, it was a quiet week on the economic calendar. Next week’s private sector PMI numbers for February will be a test…

At the time of writing, the EUR was down by 0.11% to $1.21152.

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