The Euro (EUR) tumbles more than 0.60% versus the Greenback (USD) following a hotter-than-expected US inflation report, which triggered the EUR/USD dr
US September CPI YoY ascends to 3.7%, surpassing estimates and keeping rate hike discussions alive. EUR/USD navigates through 1.0550 as the US Dollar gains momentum amidst inflationary pressures. ECB officials’ neutral stance contrasts with potential Fed policy shifts, adding tension to EUR/USD dynamics. op below the 1.0600 figure toward the 1.0550 region at the time of writing. EUR/USD plummets below 1.
Other data showed the US labor market remains hot after Initial Jobless Claims for the last week rose by 209K below forecasts of 210K, which, although coming to a tick lower, shows the jobs market is getting in balance. Meanwhile, Fed officials remained dovish before the latest inflation data, which could trigger a reassessing of previous adopted postures before CPI release. On the Eurozone front, central bank officials of the ECB had adopted a more neutral stance.
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