EUR/USD pops to daily highs near 1.1840 on disappointing US CPI
|- EUR/USD climbs to fresh tops around 1.1840 on Tuesday.
- German 10-year Bunds yields remain capped around -0.30%.
- US CPI came in short of expectations in August.
The knee-jerk in the dollar now pushes EUR/USD to new highs in the 1.1840 region on Tuesday.
EUR/USD stronger on US data
EUR/USD climbs further and reaches tops around 1.1840 after the greenback lost further ground in the wake of the release of US inflation figures for the month of August.
In fact, US consumer prices tracked by the headline CPI rose 0.3% MoM and 5.3% YoY, while core prices (excluding food and energy costs) rose 0.1% MoM and 4.0% over the last twelve months, all prints surprising to the downside.
In the bonds market, yields of the German 10-year Bund correct lower after hittig fresh highs in the -0.30% earlier in the session, while yields of the US 10-year note recede to 1.32% and to sub-0.21% levels when comes to the 2-year note.
EUR/USD levels to watch
So far, spot is gaining 0.26% at 1.1841 and faces the next up barrier at 1.1909 (monthly high Sep.3) followed by 1.1935 (100-day SMA) and finally 1.2000 (psychological level). On the other hand, a break below 1.1770 (weekly low Sep.13) would target 1.1704 (monthly low Mar.31) en route to 1.1663 (2021 low Aug.20).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.