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EMU flash CPI next: impact on EUR/USD

FXstreet.com (Barcelona) - EMU’s Preliminary Consumer Prices for the month of May are due next, with market expectations pointing to an annual expansion of 1.4% in the headline and 1.1% for the Core reading. It is worth noting that both estimates are higher than March’s 1.2% and 1.0%, respectively.

After yesterday’s pronounced advance, the single currency managed to keep the 1.3000 handle so far, although today’s light docket would not pose much of a threat to the current price action. Market participants are already shifting their focus on the next ECB meeting in the upcoming week.

In the view of Currency Strategist Valeria Bednarik at FXstreet.com, “buyers will now jump in on pullbacks towards 1.3000, while a break above mentioned 1.3160 should lead to an upward continuation towards 1.3100 this Friday”.

USD/CHF sideways trading at 0.9535/36

The USD/CHF has been trading in a sideways consolidation Friday, unable to sustain a course in either direction following yesterday’s collapse below the 0.9600 barrier.
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