7:06 PM · 10 November 2021

EURUSD hits new low for the year

During today's session the EURUSD pair fell to 1.1510 and set a new record low for the year. The dollar strengthening is of course the effect of today's inflation reading. On the other hand, considering such a surprise, one could expect a bit more from the dollar bulls. The pair tried to rebound from fresh lows, but buyers failed to uphold momentum. From a long-term perspective, a potential break below 1.1500 could be an important turning point for the dollar. Meanwhile, gold erased some of its early gains but still remains above $ 1,833 level.

The dollar surged after the CPI inflation reading. Source: xStation5

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