EUR/USD accelerates gains and retargets 1.1000 post-US CPI EURUSD CPI Currencies Majors
US inflation figures surprised to the downside in March.gathers extra steam and approaches the psychological 1.1000 barrier on Wednesday.EUR/USD extends the weekly recovery and records new monthly highs near 1.0990 after the greenback lost the composure following lower-than-expected US inflation figures for the month of March.
Following the release of the US CPI, the probability of a 25 bps rate hike by the Fed in May decreased to around 63% along with the U-turn in US yields across the curve.What to look for around EUR Moving forward, hawkish ECB-speak continue to favour further rate hikes, although this view appears in contrast to some loss of momentum in economic: Germany Final Inflation Rate, EMU Industrial Production .: Continuation, or not, of the ECB hiking cycle. Impact of the Russia-Ukraine war on the growth prospects and inflationSo far, the pair is gaining 0.60% at 1.0975 and a break above 1.0989 would target 1.1032 en route to 1.1100 . On the flip side, the next support comes at 1.
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