Consumer prices in the eurozone were unchanged in August. Data from Eurostat showed headline inflation rising 1.0% in August on the year. This was the same pace of increase in the month before. Core inflation rate eased to 0.9%. The decline in inflation comes as energy prices fell 0.6% during the period. This reversed the gains made in the month before.
EUR/USD Slips Back to Support
The currency pair was seen easing back to the support area of 1.1030. The currency pair looks to be trading within the established range of 1.1091 and 1.1030. We do not expect to see further declines coming along. As a result, the currency pair could remain muted within the said range with a possible breakout to the upside.
