$EURUSD Forex Signal: Triple Top Pattern Points to More Downside
US consumer inflation data
Precisely, analysts believe that the headline CPI remained unchanged at 5.0% on a year-on-year basis. They also expect that the CPI rose from 0.1% to 0.4% on a MoM basis. Meanwhile, core inflation, which excludes volatile food and energy prices, is expected to drop from 5.6% to 5.5%.They are also crucial because they come a week after the Fed interest rate and the strong US jobs numbers. In a statement, the Fed decided to hike interest rates by 0.
Therefore, the EUR/USD pair will likely continue falling if the US published strong inflation numbers. That’s because these numbers will provide the Fed with the impetus it needs to continue hiking interest rates in the coming months.
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