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BREAKING: USD weakens after CPI inflation report

The widely watched US CPI inflation for August has just been released. The data came in line with expectations as the headline inflation dropped slightly to 5.3% YoY in August  compared to 5.4% YoY print last month. The Core CPI figure came in below  the consensus estimate as it amounted to 4.0% YoY (vs exp. 4.2% YoY) and compared with 4.3% YoY in July.

US inflation rate still remains elevated. Source: Macrobond, XTB

EURUSD broke above the 1.1825 resistance level after today's data releases and is testing 200 SMA (red line). Source:xStation5  


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