Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
12 Aug 2020

When is US CPI report and how could it affect EUR/USD?

US CPI Overview

Wednesday's US economic docket highlights the release of the US consumer inflation figures for July, scheduled later during the early North American session at 12:30 GMT. The headline CPI is projected to rise by 0.3% during the reported month as compared to the 0.6% increase recorded in June. Meanwhile, the yearly rate is anticipated to come in at 0.8% as against 0.6% previous. The core CPI (excluding energy and food costs) is anticipated to have risen 0.2% MoM and 1.1% YoY.

How could it affect EUR/USD?

Against the backdrop of reviving hopes of a US economic recovery, a stronger-than-expected reading might be enough to provide a modest lift to the US dollar. That said, the reaction is likely to remain limited amid uncertainty over the next round of the US fiscal stimulus measures.

In the meantime, Yohay Elam, FXStreet's own Analyst offered important levels to trade the pair: "Critical support awaits at the double-bottom of 1.17, recorded in recent weeks. Beyond that line, 1.1625 was a stepping stone on the way up, 1.1540 was a swing low and 1.1510 provided support in mid-July. Resistance is at 1.1750, which provided support last week, followed by 1.1805, which capped EUR/USD on Tuesday. Next, 1.1850 and 1.1915 await the currency pair."

Key Notes

   •  US CPI July Preview: Inflation loses its cachet

   •  EUR/USD Forecast: Breaking double-bottom looks near as bulls yield ground, inflation eyed

   •  EUR/USD Price Analysis: Immediately to the upside comes in 1.1916

About the US CPI

The Consumer Price Index released by the US Bureau of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchasing power of USD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).

Aug 12, 2020

USD/CAD drops below 1.3300 as WTI continues to push higher

The broad-based USD strength lifted the USD/CAD pair to a fresh daily high of 1.3348 in the early European trading hours. However, with rising crude o
Read more Previous
Aug 12, 2020

USD/JPY about to break above the 107.00 level

USD/JPY is trading at its daily high in the 106.95 price zone, bullish in the short-term and with room to break above 107.00 as the US Treasury yields
Read more Next