OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD drops further after US CPI numbers

FXStreet (Córdoba) - EUR/USD fell from 1.2700 to 1.2665, hitting a fresh 1-week low. The pair weakened after the release of US inflation numbers that boosted the USD across the board.

The euro was recovering from 1.2679 (previous daily low) and before the report climbed back above 1.2700 to 1.2727. Then started to retreated and plummeted after the data. Currently trades at 1.2674/75, down 0.30% for the day.

USD gains momentum after CPI

According to the US Department of Labor Statistics the Consumer Price Index (CPI) rose 0.1% in September, slightly above the increase of 0.2% expected. The annual rate remained unchanged at 1.7%; analyst were expecting a decline to 1.6%.

Greenback rose across the board after the report. Higher inflation numbers increase expectations about a rate hike by the FED sooner than previously expected.

Gold at day’s low after CPI data

Gold prices declined after the Consumer Price Inflation (CPI) data in the US surprised markets on the upside.
Read more Previous

Possible paths of evolution for the post-crisis world - Goldman Sachs

The Goldman Sachs team of analysts believe that there are three main scenarios regarding the future of the global economy in the post- crisis environment.
Read more Next
Start livechat