EUR/USD jumps on US CPI

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Source: Dukascopy Bank SA


On Tuesday, at 12:30 GMT, the US Consumer Price Index and Core Consumer Price Index data was published by the US Bureau of Labor Statistics. The Consumer Price Index came in at 0.3% instead of the forecast 0.4%. Meanwhile, the Core Consumer Price Index revealed price growth of 0.1% instead of the expected 0.3%.

The worse than forecast statistics caused a value adjustment of the US Dollar. On the EUR/USD charts it resulted in a sharp 35 minute surge of 35 base points. However, afterwards, the EUR.USD began a decline. By 19:30 GMT, the currency exchange rate retraced 45 base points from the post announcement surge.

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