EUR/USD: US Consumer Price Index, Retail Sales
The EUR/USD currency pair hammered through the floor on Wednesday, as the report showed that the US consumer prices rose more than anticipated in January. The Greenback gained against the Euro 61 base points or 0.49%, but then the exchange rate rebounded significantly.
The release showed that the US Consumer Price Index surged 0.5% over the course of January, beating forecasts for only a 0.3% rise. Projections for further price pressure strengthened as well as the Fed is largely expected to raise interest rates again in December. The separate report showed that retail sales in the United States marked an unexpected decline of 0.3%, following a downwardly revised December's figure.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.