2:33 PM · 10 November 2022

BREAKING: USD weakens as CPI inflation decelerates sharply

Headline inflation dropped to 7.7% YoY in October vs expected 8.0% YoY. That is a rapid decrease compared to 8.2% YoY print last month.

Core CPI figure came in below the consensus estimate as well as it amounted to 6.3% YoY vs exp. 6.5% YoY and compared with 6.6% YoY in previous month.

USDJPY is trading lower today and fresh CPI data provided more fuel for bears. The currency pair fell below major support zone in the 145.00 area. Source: xStation

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