Eurozone Inflation Surges, EURUSD Stalls at Key Resistance

The Eurozone's core inflation rate ticked up to 2.5% in July, exceeding analyst expectations of 2.4%. This marks a slight increase from June's rate of 2.4%, according to the flash estimate from Eurostat.

Energy prices continue to drive price pressures in Europe, accelerating by 10% from 8.5% in the previous month. In contrast, food, alcohol, and tobacco inflation decelerated from 1.5% to 1.2%. The services sector remains stable at 3.3%, unchanged from June.

The EURUSD currency pair is consolidating near $1.1516, above key moving averages on the H1 chart. A decisive push above the $1.1530 resistance level is crucial for bulls to unlock further gains.