EURUSD Shrugs Off US Imports Inflation Data
- US import inflation drops by 0.2% as expected.
- The drop is put down to falling petrol costs.
US import inflation edged lower by 0.2% month-on-month in March, in line with analyst forecasts. That’s the biggest fall in seven months, after the previous month’s upwardly revised rise of 0.4%, and put down to falling petrol costs. The year-on-year measure beat the estimated 4.0% increase, rising 4.2%, but that’s still a deceleration from the 4.8% y-o-y rise in February.
EUR/USD was little moved by the data. Oil prices look to be on the march again amid rising geopolitical tensions. Meanwhile, domestic US inflation is rising, although it’s still slightly the US Federal Reserve’s target.
EURUSD 15-Minute Chart (Intraday, April 12)
--- Written by Oliver Morrison, Analyst
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