Eurozone CPI rises 0.3% MoM

Eurozone CPI rose 0.3% year-on-year, in line with expectations, according to Eurostat’s final reading of the Eurozone CPI report for June. The key figures came in line with expectations as well, reaching 0.8% in the same month.

On a monthly basis, the main Eurozone CPI rose by 0.3% in June, in line with expectations.

The EUR/USD comfortably holds above 1.1400 mark on strong data and the tone around the euro. Focus now on the European Union summit, which begins Friday, and is expected to make some progress in agreeing a 750B Covid-19 recovery fund to help the most affected economies in the Eurozone.