Forex Pros –Consumer price inflation in the euro zone unexpectedly held steady in June, preliminary data showed on Thursday.
In a report, Eurostat said consumer price inflation rose by a seasonally adjusted 2.7% in June, unchanged from the previous month.
Analysts had expected euro zone CPI to rise by 2.8% in June.
The rate remains above the European Central Bank’s target of near but just below 2%.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.32% to trade at 1.4483.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 rose 0.4%, France’s CAC 40 advanced 0.35%, the FTSE 100 climbed 0.75%, while Germany’s DAX eased up 0.15%.
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