EURUSD CPI MOVE/WHAT NEXT?

2023年11月14日

The reason for the forceful price move on the EURUSD pair is as a result of the high impact news released today (CPI), the news came out negative for the USD since we had 3.7% previously and we were expecting 3.3% only to get hit by -3.2% when the CPI (YOY DATA) was released alongside the (MOM DATA) which was zero and the CPI (MOM/YOY) excluding food and energy which also came out negative and were below expectation and this data was immediately priced in and resulted in the rapid marking up of prices on the GBPUSD chart. Currently price has advanced more than hundred pips and there is still room for more move to the upside as the overall short term trend is to the upside, we could wait for pullbacks to valid levels for trend continuation.