BREAKING: USD strengthens after CPI inflation data

The widely watched US CPI inflation for April has just been released and showed that price growth eased slightly compared to March. The headline inflation dropped to 8.3% YoY in April from 8.5% in March vs expected 8.1% YoY. The Core CPI figure came in above the consensus estimate as well as it amounted to 6.2% YoY vs exp. 6.0% YoY and compared with 6.5% YoY in previous month.

EURUSD - today’s data provided some fuel for bears. The main currency pair is currently may be heading towards short-term support zone in the 1.0480 area. Source: xStation

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