1:34 PM · 14 February 2023

BREAKING: USD weakens despite inflation eases less than expected

The annual inflation rate in the US slowed for a 7th month to 6.4% in January, from 6.5% in December, and above forecasts of 6.2%.

The core CPI reading, which excludes food and energy, fell to 5.6% YoY in January from 5.7% in December and compared with market expectations of 5.5%.

On monthly basis:

• Headline inflation: 0.5 vs 0.5% expected (0.1% previously)

• Core inflation: 0.4vs 0.4% expected (0.4% previously)

EURUSD initially currency pair fell after however buyers manage to quickly regain control and price is testing resistance at 1.0800. Source: xStation5

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