Divergence between core and headline measures of inflation has been commonly observed throughout developed economies and is on display to see in Europe. Yesterday’s German inflation report highlighted stubbornly high prices in Europe’s largest economy which appears to have been ineffective in outweighing disinflation witnessed in other Euro Area nations.
EUR/USD saw a slight lift in the pair on the news of higher, stubborn core inflation. Upside momentum may be difficult to come by as we head into the weekend given the US’s surprise upward revision in Q1 GDP from 1.4% to 2% - raising the likelihood of a 25 bps hike in the US in July. US core PCE data up next
EURUSD
BUY 1.0910 - 1.0900 💯💯
✅ TP1: 1.0950
✅ TP2: 1.1000
🛑 SL: 1.0850
EUR/USD saw a slight lift in the pair on the news of higher, stubborn core inflation. Upside momentum may be difficult to come by as we head into the weekend given the US’s surprise upward revision in Q1 GDP from 1.4% to 2% - raising the likelihood of a 25 bps hike in the US in July. US core PCE data up next
EURUSD
BUY 1.0910 - 1.0900 💯💯 ✅ TP1: 1.0950
✅ TP2: 1.1000
🛑 SL: 1.0850
