Based on the published news, the main currency pair is accelerating on its way down.
EURUSD continues falling significantly on Wednesday afternoon. The current quote for the instrument is 1.1772.
The Euro Area reported on the final Consumer Price Index in April. The indicator increased up to 1.2% y/y, the same as expected. The final Core CPI expanded up to 0.7% y/y and matched the expected reading as well.
On MoM, the Inflation Rate in the Eurozone added 0.3%. According to the ECB expectations, the inflation target in the area is 2%. As one can see, the tendency is not very fast.
Despite rather neutral numbers, the Euro plummeted to its five months lows because of the difference between the preliminary and final readings. It’s quite obvious that the Core CPI, which excludes volatile goods and products, such as food and energies, experiences lack of stability.
The second half of today’s trading session will feature a lot of news from the USA. The country is scheduled to report on the Housing Starts, the Building Permits, and the Industrial Production.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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