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May 11, 2023EUR/USD crashes after losing 54 pips, breaking down to 1.093.
United States Producer Price Index data will be released today at 12:30 UTC, with an expected improvement to 0.3%. the Euro reaction to indicator information will follow.
Data for United States Crude Oil Inventories published yesterday at 14:30 UTC came out at 2.95 million, beating projections of -917,000 and showing improvement over the preceding figure of -1.28 million.
Amid the market gloom, Germany Consumer Price Index released yesterday at 06:00 UTC with a figure of 0.4%, while the previous figure was 0.8%. United States Core Consumer Prices came out at 0.4%, while a consensus of analysts was expecting 0.4%.
In the meantime, negative performances are also seen in other pairs as EUR/JPY slumps 0.5% to trade around 146.74.
Positive performances can be seen by looking at other currencies as USD/CHF gained 0.44% and is currently trading at 0.8931. USD/CAD rises 0.4% to trade around 1.3417.
Furthermore, France Consumer Price Index figure is projected at 0.6%. It previously stood at 0.7%; data will be released tomorrow at 06:45 UTC. France HICP (MoM) (Apr) scheduled to come out tomorrow at 06:45 UTC. Spain Consumer Price Index is expected tomorrow at 07:00 UTC.
The currency pair has been trending positively for about 2 months. Having set a peak of 1.1073 around 8 days ago, the Euro is now trading 0.8% below this level.
