The EUR/USD it has lost about 25 pips immediately after it was known that US inflation had risen more than expected in October. The pair has dropped to three-day lows at 1.1533.
Monthly inflation in the US has risen 0.9% in October, above the 0.6% expected and 0.4% previously, while the year-on-year CPI has soared to 6.2% from 5.4% previously, hovering above 5.8 % Estimate. Excluding food and energy, the annualized Consumer Price Index has increased 4.6%, above the 4.3% forecast and 4% in September.
The greenback reacted to this data with a rise against almost all its rivals. Measured by the DXY index, it has jumped to 94.44, its highest level since Friday, November 5.
The United States has also published weekly claims for unemployment benefits for the week of November 5, which have moderated to 267,000. The data for the previous week has been revised up from 269,000 to 271,000.
While waiting for the market to digest the high inflation rates and the possible reaction of the Fed, and with the Veterans Day holiday in the US tomorrow Thursday looming on the horizon, the pair is currently trading above 1.1549, losing 0.40% on the day.
EUR / USD levels
In the event of further decreases, the main support expected at 1.1513, minimum of the year 2021 registered on November 5. Below 1.1500 expect 1.1422, the floor of July 21, 2020, prior to the 1.1400 zone.
To the upside, only a recovery above 1.1600 could trigger a boost in the euro towards 1.1616, the November 5 high. Higher up awaits 1.1692, the monthly maximum for October reached on the 28th.