EUR/USD – Inflation data mostly in line with forecasts by Milan Cutkovic

  • CPI month-on-month 0.1 % as expected
  • Year-on-year 0.4 % vs 0.3 % f/c
  • EUR/USD unchanged despite the slightly higher YoY figure
  • Still decent offers ahead of the 1.30 level
  • Market is now waiting for the FOMC later today
  • Should Yellen disappoint USD bulls, break above 1.30 likely and daily close above the big figure likely to trigger further short covering

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