EURUSD Shrugs Off US Import 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
To contact Oliver, email him at firstname.lastname@example.org
Follow Oliver on Twitter @OPWMorrison
If you’re looking for trading ideas, check out our Trading Guides; they’re free and updated for the first quarter of 2017
If you’re looking for ideas more short-term in nature, please check out our Speculative Sentiment Index indicator (SSI)
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.