The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
The U.S CPI (Y/Y) jumped to 1.8% above expectations 1.7% in March . This development is likely to advance the Us dollar a little bit , let’s see market impact on major pairs:
EURUSD : The pair has declined below 1.0800 levels but buyers are likely to back above 1.0706 levels..
GBPUSD : The pair is bullish in short term view above 1.4970 levels , this level should limit any rebound and pushed the pair back again towards 1.5085 levels.. next support comes at the 1.4850 levels ahead of the 1.4811 levels (main).
USDJPY :The pair rebounded from 118.50 levels , but as long as it trades below 119.73 levels , It will remain under pressure and further down couldn’t be ruled out…………..
Eyes on U.S Michigan Consumer Sentiment (Apr) at 14:00 GMT , positive US data will extend the pullback for EURUSD and GBPUSD , strong pressure may seen on main support levels , but in return ; negative US data is likely to end the current pullback for EURUSD and GBPUSD and bring rise resumption !!!!!