| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:55 | Germany | Manufacturing PMI | September | 42.4 | 40.3 | 40.6 |
| 08:00 | Eurozone | Manufacturing PMI | September | 45.8 | 44.8 | 45.0 |
| 08:30 | United Kingdom | Purchasing Manager Index Manufacturing | September | 52.5 | 51.5 | 51.5 |
| 09:00 | Eurozone | Harmonized CPI | September | 0.1% | -0.3% | -0.1% |
| 09:00 | Eurozone | Harmonized CPI, Y/Y | September | 2.2% | 1.9% | 1.8% |
| 09:00 | Eurozone | Harmonized CPI ex EFAT, Y/Y | September | 2.8% | 2.8% | 2.7% |
EUR weakened against other major currencies in the European session on Tuesday as investors reacted to the Eurozone’s flash consumer price index (CPI) prints for September, which showed that the annual inflation in the regions eased slightly more than anticipated.
Eurostat reported its preliminary estimates revealed that consumer prices in the euro area rose by 1.8% YoY last month compared to a 2.2% YoY gain in August and economists’ forecast of a 1.9% YoY increase. The September CPI reading was the lowest since April 2021 and below the European Central Bank’s 2% target. Meanwhile, the core CPI jumped by 2.7% YoY, decelerating from 2.8% YoY in August. Economists had expected the measure of underlying price pressure to hold steady in September.
The latest data raised speculation that the ECB could reduce its interest rates at a quicker pace than previously expected.