EUR/USD slips to 0.9630 on US CPI

 

The EUR/USD falls to 0.9630 after losing momentum. In September, US CPI grew more than was anticipated. The likelihood of a 75 basis point rate increase by the Fed increases.

The euro soon left the zone of daily highs against the dollar, causing EUR/USD to Thursday plunge to new 2-week lows at 0.9630.

After the crucial US inflation data came positively in September, with the headline CPI climbing 8.2% YoY and 0.4% MoM, the selling pressure on the EUR/USD currency pair intensified. The Core CPI continued its upward trajectory, climbing 6.6% compared to the same month in 2021 and 0.6% from the previous month.

Additional data releases revealed that the average weekly Claims increased by 228K on October 8, which was also more than anticipated.

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