Apr 16, 2013
Forex: EUR/USD shoots above 1.3100
The EUR/USD embraced the upside and moved above the 1.3100 handle, reaching as high as 1.3114 for now, as European investors go for lunch and the market prices in expectations ahead of the US data, including the CPI report, Housing Starts and Industrial Production. “We expect headline CPI to rise by +0.1%/mth, following the chunky +0.7% rise the month before. On an annual basis, favorable base effects lower the rate from 2.0% to 1.7%/yr (mkt 1.6%)”, wrote TD Securities analyst Annette Beacher, expecting also a relatively subdued Core CPI, at +0.2%/mth and 1.7%/yr (mkt 2.0%).
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