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EUR/USD Jumps After CPI Report

EUR/USD traded in a range for the most part of the current trading session but jumped after the release of the US inflation report. While the CPI data was in line with expectations, analysts argued that it did not provide incentive for the Federal Reserve to hike interest rates with faster pace. And that disappointed those dollar bulls who were betting on more aggressive monetary tightening from the Fed.

CPI rose 0.2% in February, seasonally adjusted, just as analysts had expected. The index was up 0.5% in January. (Event A on the chart.)

Yesterday, a report on treasury budget was released, showing a deficit of $215.2 billion in February after the surplus of $49.2 billion registered in January. (Not shown on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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