BREAKING: US CPI reading lower than expected🗽EURUSD gains

01:30 PM GMT, United States - Inflation Data for February:

• CPI: actual 2.8% YoY; forecast 2.9% YoY; previous 3.0% YoY;

• CPI: actual 0.2% MoM; forecast 0.3% MoM; previous 0.5% MoM;

• Core CPI: actual 0.2% MoM; forecast 0.3% MoM; previous 0.4% MoM;

• Core CPI: actual 3.1% YoY; forecast 3.2% YoY; previous 3.3% YoY;

Shelter remains the key contributor to Core CPI, highlighting persistent inflationary pressures in housing costs. However, there are signs of cooling down.

EURUSD moves higher following a lower-than-expected CPI print, boosting market sentiment. The US100 is up 1.2%, while the US500 gains 0.88%. Cryptocurrencies are also rebounding after the news.