BREAKING: EURUSD surges after lower than expected core CPI data 📌

01:30 PM GMT, United States - Inflation Data for December:

• Core CPI: actual 0.2% MoM; forecast 0.3% MoM; previous 0.3% MoM;
• Core CPI: actual 3.2% YoY; forecast 3.3% YoY; previous 3.3% YoY;
• Core CPI Index: forecast 323.40; previous 322.66;
• CPI: actual 0.4% MoM; forecast 0.4% MoM; previous 0.3% MoM;
• CPI: actual 2.9% YoY; forecast 2.9% YoY; previous 2.7% YoY;

It took investors just three days for euphoria to return to the market. Yesterday's lower PPI data and today's lower core CPI reading have significantly improved sentiment, despite higher monthly readings of headline inflation (although in line with expectations). In the initial market reaction, we observe a sharp weakening of the dollar and a strong upward impulse in contracts for U.S. stock indices. Cryptocurrencies are also gaining strongly.

Source: xStation 5