Home No surprises from US inflation figures
Forex News Today: Daily Trading News

No surprises from US inflation figures

The US consumer price index rose by 0.1% in January 2014, as expected. So did core CPI. The number of jobless claims dropped to 336K, within expectations as well. US CPI was expected to rise 0.1% in January after 0.3% in December. Core CPI was also expected to rise at 0.1% after the same rise in beforehand. Year over year, both indicators stand at 1.6%, exactly as expected. Jobless claims were predicted to slide from 339K to 335K.

EUR/USD trading at around 1.37, partially recovering from weak figures. GBP/USD traded higher at 1.5570. USD/JPY was just above 102. The euro is marginally higher after the release. Update: it didn’t go too far.

Update:  Philly Fed Index goes negative – USD follows

Lower inflation could make Janet Yellen and her colleagues at the Federal Reserve rethink the QE tapering scheme.

After a streak of disappointing US figures, this “as expected” bulk of figures is certainly a breather for the dollar. While it doesn’t push the greenback higher, the numbers allow for traders to digest the FOMC meeting minutes once again and see that the Fed is on track.

More:  FOMC Minutes sees economy on track, reflects new hawkish composition – USD marginally stronger

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.