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US CPI causes USD surge

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


At 13:30 GMT, the US government released the monthly Consumer Price Index data. US month-on-month inflation was revealed to be higher than forecast, as the CPI came in at 0.6% instead of 0.4%

The value of the US Dollar immediately surged, as the higher than expected inflation strengthened the case of the US Federal Reserve for monetary tightening. Namely, hiking interest rates in March.

The EUR/USD reacted to the news with a 48 base point or 0.42% decline over the span of five minutes.
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