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Market View

Inflation Data pushes EURUSD

Friday, April 28, 2017 6:26 AM GMT

Euro-area inflation rebounded back to a level in line with the European Central Bank objective and indicating price growth surged, pointing towards the major debate on current stimulus policy. Consumer Price Index increased (Previous: 1.5%, Forecast: 1.8%, Actual: 1.9%) thus better than Economists forecasted. This event boosted EURUSD to the upside, trying to reclaim the recent high at 1.0945. 

The upcoming US news may give the next important price move as the pair is heading to major resistances in the 1.10 area. We are expecting US Gross Domestic Product Annualized (Q1) (Previous: 2.1%, Forecast: 1.2%) and US Personal Consumption Expenditures Prices (QoQ) (Q1) (Previous: 2.0%, Forecast: 2.3%).




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