EURUSD crashes on upbeat U.S. inflation data.
EURUSD under the strong bearish pressure today under the effect of the powerfully bullish U.S. dollar sentiment after Inflation in the US, as measured by the Consumer Price Index (CPI), jumped to 5.4% on a yearly basis in June from 5% in May, the data distributed by the US Bureau of Labor Statistics revealed on Tuesday. Additional details of the report showed that the annual Core CPI, which excludes volatile food and energy prices, rose to 4.5% from 3.8%, far exceeding analysts’ estimate of 4%. EURUSD is expected to fall further on dollar gains as markets digest the inflation data.
Next support to watch – 1.1783
Trade with an award-winning STP broker! Lowest spreads on the market for Forex, Precious Metals, Energies, & Crypto. No re-quotes, no rejection of orders & instant withdrawals.