EUR found a reason to grow. Overview for 14.10.2022
.The major currency pair is stable on Friday. The current quote for the instrument is 0.9780.
Yesterday the US released this week’s key report, the CPI for September. The indicator dropped to 8.2% y/y after being 8.3% y/y in August, which is quite good. However, on MoM, it added 0.4% against the expected reading of 0.2%.
No matter how you slice it, inflation in the US remains at its all-time highs.
The Core CPI updated its 1982 high and reached 6.6% y/y against the expected reading of 6.5% y/y.
When making monetary decisions, the US FOMC uses the other inflation indicator, PCE Price Core. It was released earlier and turned out to be rather neutral. However, it doesn’t mean that the regulator pays no attention to other CPI reports.
At some point of time, the USD was in demand, but it retreated after market tendencies reversed.
Later today, investors should switch to the Retail Sales report for September. There will be no hype around the release like yesterday, but the statistics might provide the latest data on the sector and consumer sentiment.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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