EUR/USD: US Consumer Price Index

Source: Dukascopy Bank SA

The EUR/USD dropped initially after the US consumer inflation reports showed better-than-expected figures. The Euro depreciated against the US Dollar by 0.39% or 46 base points to the 1.1849 mark, though the European single currency managed to return to pre-data levels. 

According to the Labour Department's report, the consumer inflation in the US showed a monthly rise of 0.4% in the month of August, with an annual gain of 1.7% in the same period. An increase in the CPI figures boosted expectations for the Fed rate hike in December, which supported bullish sentiment in EUR/USD additionally fuelled by the NK latest missile launch. The next direction of the pair will be determined by Friday's retail sales data.

Historical Data Table: US CPI m/m
           
Date 12.05.2017 14.06.2017 14.07.2017 11.08.2017 14.09.2017
Actual 0.2% -0.1% 0.0% 0.1% 0.4%
Forecast 0.3% 0.2% 0.1% 0.2% 0.3%
           
Initial Reaction on Main Pairs
           
  Open Price Close Price % Change
AUD/USD 0.79903 0.79628 -0.34%
EUR/USD 1.18952 1.18491 -0.39%
USD/JPY 110.531 110.95 0.38%
NZD/USD 0.72159 0.71874 -0.39%

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