The widely watched US CPI inflation for August has just been released. The data came in line with expectations as the headline inflation dropped slightly to 5.3% YoY in August compared to 5.4% YoY print last month. The Core CPI figure came in below the consensus estimate as it amounted to 4.0% YoY (vs exp. 4.2% YoY) and compared with 4.3% YoY in July.
US inflation rate still remains elevated.
EURUSD broke above the 1.1825 resistance level after today’s data releases and is testing 200 SMA (red line).
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