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EURUSD Shrugs Off US Imports Inflation Data

EURUSD Shrugs Off US Imports Inflation Data

Oliver Morrison, Analyst

Talking Points

- US import inflation drops by 0.2% as expected.

- The drop is put down to falling petrol costs.

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

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)

EURUSD Shrugs Off US Imports Inflation Data

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Chart by IG

--- Written by Oliver Morrison, Analyst

To contact Oliver, email him at oliver.morrison@ig.com

Follow Oliver on Twitter @OPWMorrison

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