The widely watched US CPI inflation for April has just been released. The data came in above expectations as the headline inflation rose 4.2% YoY in April vs expected 3.6% YoY. That is a rapid increase compared to 2.6% YoY print last month. The Core CPI figure came in above the consensus estimate as well as it amounted to 3.0% YoY (vs exp. 2.3% YoY).
US100, which may be seen as the most sensitive to US inflation fears, fell rapidly after the CPI data release. Source: xStation5
EURUSD tanked below 1.21 level. However, the reaction of US yields was not that significant as one would expect. Source: xStation5
What to look out for this week❓
Morning Wrap: Iran's peace proposal “UNACCEPTABLE”; markets take a hit ❗💥
BREAKING: US Labor Market Stronger Than Expected, While Wage Pressure Eases. EURUSD gains!🚨
Market Live: NFPs
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