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Forex: EUR/USD eyes 1.3100 after US CPI

FXstreet.com (Barcelona) - Further USD weakness after the US inflation figures and the NY Empire State manufacturing index is lifting once again the single currency to fresh intraday highs in the vicinity of the key resistance at 1.3100

US CPI showed an annualized expansion of 2.0% and 0.7% on a monthly basis, vs. expectations at +1.9% and +0.5%, respectively. The Empire State index came in at 9.24, missing estimates at 10.00 and down from February’s 10.04

At the moment the cross is up 0.70% at 1.3095 facing the next hurdle at 1.3111 (MA21d) ahead of 1.3129 (MA100d) and finally 1.3135 (high Mar.8).
On the downside, a breach of 1.3000 (hourly low Mar.15) would aim for 1.2912 (low Mar.14) and finally 1.2881 (low Dec.10).

US: CPI (MoM) beats consensus of 0.5%, rises by 0.7% in February

The February CPI data in the US rose by 0.7% instead of the expected 0.5%. The annualized figure improved from 1.6% to 2.0%, also beating the 1.5% consensus. Excluding food and energy data came in as expected, at 0.2% (MoM) and from 1.9% to 2.0% (YoY).
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Forex: USD/CHF falls to 0.9400 on higher than expected US CPI

The sideways movement at 0.9420/30 range throughout the European session after an earlier drop from the opening price area of 0.9472 came to an end on the release of US CPI data. Higher than expected figures are weighing on the greenback against its counterparts. The USD/CHF fell from 0.9430 down to the 0.9400 psychological level, with a spike reaching 0.9397.
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