Market news
13.10.2021, 12:39

EUR/USD retreats below 1.1550 after US inflation data

  • EUR/USD pair lost its traction in the early American session.
  • Annual CPI in US edged higher to 5.4% in September.
  • US Dollar Index is staging a modest rebound after inflation report.

After rising to a fresh daily high of 1.1567 during the European trading hours, the EUR/USD pair came under renewed bearish pressure and was last seen trading at 1.1544, where it was down 0.15% on a daily basis.

Price pressures in US remain intact

The positive impact of the September US inflation report's on the greenback seems to be weighing on EUR/USD in the early American session.

The US Bureau of Labor Statistics announced on Wednesday that the Consumer Price Index (CPI) rose to 5.4% on a yearly basis from 5.3% in August. This reading came in slightly higher than the market consensus of 5.3%. Moreover, the annual Core CPI stayed unchanged at 4% as expected.

At the moment, the US Dollar Index, which touched a session low of 94.24, is down only 0.1% on the day at 94.42. Later in the session, the FOMC's September Meeting Minutes will be looked upon for fresh impetus.

FOMC Minutes Preview: Fed to reiterate taper message, sending the dollar up, stocks down.

Meanwhile, US stock index futures stay afloat in the positive territory, suggesting that the CPI is having little to effect on risk sentiment. 

Technical levels to watch for

 

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location