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EUR/USD Trades Above Opening Despite Positive Surprise from CPI

September 11, 2020 by

EUR/USD rallied today and managed to keep gains even after US inflation data came out better than expected. While the currency pair has trimmed its gains by now, it is still trading above the opening level.

US CPI rose by 0.4% in August on a seasonally adjusted basis. Core CPI rose at the same rate. Both indicators were up 0.6% in July. Analysts had predicted an increase of 0.3% for CPI and 0.2% for core CPI. (Event A on the chart.)

Treasury budget deficit was at $200.1 billion in August, up from $63.0 billion in July. Analysts had predicted a bigger deficit of $238.7 billion. (Event B on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

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