By Scott Andrews
MAY 13, 2021
US index 13 05 2021
Last night saw the release of CPI data with the key information being:
The CPI m/m data released yesterday indicated a sharp increase in inflation in April. Measured from a year ago, annual inflation rose by 4.2%, the fastest since 2008.
- CPI m/m (Actual: 0.8%, Forecast: 0.2%, Previous: 0.6%)
- Core CPI m/m (Actual: 0.9%, Forecast: 0.3%, Previous: 0.3%)
The US dollar moved strongly off 90.20 and is currently holding at over 90.70, a buy trade if price can pull back to 90.50 with a stop loss at 90.30 with a take profit at 91.00.
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