The Greenback weakened against the European single currency , following the US CPI data release last Friday. The EUR/USD currency pair lost 15 pips, or 0.13%, to continue fluctuating in the 1.1455 area, which is an insignificant change.
The Bureau of Labor Statistics released Consumer Price Index data that came in line with expectation of 0.2%. The CPI rate stays unchanged, repeating itself from period to period.
The Capital Economics' senior US economist Michael Pearce said. "Our forecast is that core inflation will continue to trend higher from here, with core PCE inflation hitting 2.3 per cent by the end of this year. With economic growth strong and inflation overshooting, the Fed will continue hiking interest rates once a quarter over the coming 12 months."
| Historical Data Table: CPI m/m | Economic Calendar for 14.08.2018 | ||||||||
| Date | 13.03.2018 | 11.04.2018 | 10.05.2018 | 12.06.2018 | 10.08.2018 | 8:30 AM | GB Average Earnings Index 3m/y |
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| Actual | 0.20% | -0.10% | 0.20% | 0.20% | 0.20% | 8:30 AM | GB Unemployment Rate | ||
| Forecast | 0.20% | 0.00% | 0.30% | 0.20% | 0.20% | 9:00 AM | EU Flash GDP q/q | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 0.73092 | 0.73089 | 0.00% | AUD/USD | 60.93% | 39.07% | |||
| EUR/USD | 1.14511 | 1.14511 | 0.00% | EUR/USD | 68.94% | 31.06% | |||
| USD/JPY | 110.893 | 110.902 | 0.01% | USD/JPY | 38.72% | 61.28% | |||
| NZD/USD | 0.65985 | 0.65973 | -0.02% | NZD/USD | 68.97% | 31.03% | |||