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.
