1:34 PM · 12 January 2022

BREAKING: USD weakens after CPI inflation data

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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