The widely watched US CPI inflation for September has just been released and showed inflationary pressures on the economy remain elevated in September as supply-chain bottlenecks have not improved and energy prices soared, raising further concerns that high inflation will last longer than expected.
The data came in slightly above expectations as the headline inflation rose to 5.4% YoY in September vs expected 5.3% YoY. That is a slight increase compared to 5.3% YoY print last month. The Core CPI figure came in line with the consensus as it amounted to 4.0% YoY and compared with 4.0% YoY in August.
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EURUSD bounced off the downward trendline and 50 SMA (green line) after today's data release and pair is heading towards major support at 1.1530. Source:xStation5
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