14:34 · 12 January 2022

BREAKING: USD weakens after CPI inflation data

EUR/USD
Forex
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The widely watched US CPI inflation for December has just been released. The data came in line with market expectations as the headline inflation rose to 7.0% YoY in December and compared to 6.8% in November.  The Core CPI figure came in above the consensus estimate as  as it amounted to 5.5% YoY (vs exp. 5.4% YoY) and compared with 4.9% YoY in November.

 

It is the highest inflation level since June of 1982. Source: Macrobond, XTB Research

EURUSD is trading higher today and CPI data provided more fuel for bulls. The main currency pair broke above a short-term resistance zone in the 1.1370 area. Source: xStation5

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