USD surges due to CPI

Source: Dukascopy Bank SA


On Wednesday, the US Bureau of Labor Statistics published the monthly Consumer Price Index and Core Consumer Price Index numbers. Both numbers came in higher than the market forecast. Namely, CPI was 0.8% instead of 0.2% and Core CPI was at 0.9% instead of 0.3%.

The EUR/USD reacted to the news by dropping 50 base points or 0.41%. However, in less than fifteen minutes the currency exchange rate had recovered to previous levels.
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Wed, 12 May 2021 06:17:38 GMT

GBP reacts to GDP data

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