EUR/USD bulls pressured back below 1.1000 – by fx_ross EURUSD Currencies Fed CPI ECB
rallied on the back of the US Consumer Price Index and reached a high of 1.1006 on the day from a low of 1.0941. Headline CPI growth in the US ended lower to 4.9% in April from 5% in March. 'Core' inflation excluding food and energy products also moderated, to 5.5% from 5.6% in March.
´´Labour market conditions still look strong, but are showing cracks under the surface, and tension remains among regional banking credit markets.´´ In this regard, analysts at Brown Brothers Harriman noted that the ´´Federal Reserve easing expectations are starting to get pared back.´´
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