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.
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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
