This week is almost ended, Easter is here and investors took a break. The Euro-dollar currency pair moved sideways from the opening price to the current moment. Tuesday the price stopped at 1.3800 even though the fundamental analysis was sustaining a US dollar strengthening. Both US CPI and Core CPI surprised with a 0.2% release while it was expected 0.1%.
Yesterday the EU Current Account was below expectations, while the CPI was in line with its estimates of 0.5% y/y. The Core CPI of the European Union did not meet analysts’ median estimation of 0.8% growth on an annual basis. While EU data was rather disappointing, the US releases surprised with some good numbers. Building Permits met their expectations as well as Housing Starts; Capacity Utilization Rate and the Industrial Production went above analysts’ expectations and should have triggered some buying for the US dollar, but it didn’t.
See our last analysis: EUR/USD Forecast And Price Action For April 15th;