The Consumer Price Index (YoY) for August shows a decline, recording an actual figure of 2.5%, which is lower than the previous month’s 2.9% and below the consensus expectation of 2.6%. The effect on the forex market is a buying pressure for the USD, but not on all the majors pairs we are seeing advances for the greenback.
For major currency pairs, EUR/USD is slightly down by 0.01%, trading at 1.1019, lower than its intraday high 1.1054. The pair is trading below the 23.6% Fibonacci retracement of the bullish trend started on September of the last year. GBP/USD has declined by 0.15% to 1.3059. USD/JPY is down 0.12%, trading at 142.25, and USD/CAD is also down by 0.11% at 1.3595. Conversely, USD/CHF is up by 0.39%, trading at 0.8502. NZD/USD has dropped by 0.36% to 0.6127, and AUD/USD is marginally lower by 0.03%, trading at 0.6651. In the cross pairs, EUR/GBP is up 0.15% at 0.8437, while GBP/JPY has declined by 0.27%, trading at 185.77.
