EUR/USD reacts to CPI, waits for Powell

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%.

The lower than expected US inflation caused a drop of the US Dollar. The EUR/USD surged to the resistance of the weekly R2 at 1.0675, Afterwards, the pair traced and found support near 1.0620. At mid-day on Wednesday, the rate had returned to the 1.0675 level.

In regards to near future, fundamentals continue to dictate the moves. At 19:00 GMT, the US Federal Reserve is set to announce its interest rate hike. The markets expect a 0.50% interest increase. Afterwards, at 19:30 GMT, the head of the Federal Reserve Jerome Powell will host a press conference, during which the future plans of the US Dollar's policymakers will be revealed.
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Wed, 14 Dec 2022 12:56:03 GMT

GBP/USD remains below 1.2400

The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The lower than expected US inflation caused a drop of the US Dollar. The GBP/USD surge almost reached the 1.2450 mark, before retracing to find support

Tue, 13 Dec 2022 08:53:01 GMT

Gold declines below support levels

The price for gold has passed below the support of the 100 and 200-hour simple moving averages and the 1,784.20/1,786.00 range. However, during late Monday's trading, support was found in the 1,780.00 level and the price retraced back above 1,785.00, as it ignored technical levels. The metal is ignoring technical, as the market expects the publication of the US Consumer

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