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Euro-zone inflation 1.6% YoY vs. 1.8% expected - EUR/USD ticks down

The preliminary read for the euro-zone Consumer Price Index for December came out at 1.6% YoY in December, down from 1.9% in the final version for November and below 1.8% expected. Falling energy prices are behind the significant slowdown.

Core CPI met expectations at 1.0%. The Producer Price Index (PPI) fell by 0.3% MoM in December, worse than -0.2% expected. Year over year, the PPI is up by 4% against 4.1% expected. 

Italy also released its CPI data at the same time. The euro zone's third-largest economy saw a drop of 0.1% in monthly and in yearly CPI.

EUR/USD shed a few pips in the immediate aftermath, dipping below 1.1400. EUR/GBP dipped below 0.9000.

Italy Consumer Price Index (EU Norm) (MoM) fell from previous 1.6% to 1.2% in December

Italy Consumer Price Index (EU Norm) (MoM) fell from previous 1.6% to 1.2% in December
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AUD/USD daily chart AUD/USD is trading in a bear trend below the 200-period simple moving average (SMA). The Aussie is trading near 3-year’s low. 
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