EUR\/USD<\/strong><\/a> moved sideways along the 0.9700 horizon as markets waited for the release of US inflation data last week. October 14th the Department of Labor Statistics of the country published fresh values of the Consumer Price Index, which exceeded the forecast values. In monthly terms, the September CPI reached 0.6% against the forecast of 0.5%, in annual terms \u2013 6.6% against the forecast of 6.5% and the previous value of 6.3%.<\/p>\nThe dollar began to lose its position rapidly: DXY fell to 112.46, and EUR.USD broke through 0.9800. On the contrary, the S&P500 was positive by the end of Thursday and grew by 2.6%. Analysts cite the strong oversold stock market as the main reason for this change in sentiment and the sharp increase in risk appetites. It is believed that stocks lose about 30% during recessions. At this stage, the S&P500 is down 27.5% during 2022. Therefore, some investors have decided that the bottom has already been reached or will be reached soon, and it is time to start buying. A large number of put options have recently been bought in the US market, on which profit-taking took place, and the freed fiat was used to purchase risky assets.<\/p>\n
Following the release of September US Retail Sales and the University of Michigan Consumer Sentiment Index, the EUR\/USD pair was trading in the 0.9750 zone. October 14.55% of analysts support the fact that it will continue to move south in the near future, another 35% expect it to move north, and the remaining 10% vote for a sideways trend. Among the trend indicators on D1, 90% are red and 10% are green. The picture is quite different among the oscillators: only 40% of them advise selling the pair, 15% are in favor of buying, and 55% have taken a neutral position.<\/p>\n
This week\u2019s highlights will be Tuesday October 18th, when the German ZEW Economic sentiment index is released. The Consumer Price Index of the Eurozone will be known. And there will be data on manufacturing activity and the housing market in the US on Thursday, October 20th.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
EUR\/USD displays a rangebound structure around 0.9700 ahead of US Inflation EUR\/USD moved sideways along the 0.9700 horizon as markets waited for the release of US inflation data last week. October 14th the Department of Labor Statistics of the country published fresh values of the Consumer Price Index, which exceeded the forecast values. In monthly<\/p>\n... continue reading<\/a>.","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[20,265,168,296,157,347,293,201],"yoast_head":"\r\nEUR\/USD displays a rangebound structure around 0.9700<\/title>\r\n<meta name=\"description\" content=\"EUR\/USD moved sideways along the 0.9700 horizon as markets waited for the release of US inflation data last week.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/MU\/eur-usd-displays-a-rangebound-structure-around-0-9700-ahead-of-us-inflation\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"EUR\/USD displays a rangebound structure around 0.9700\" \/>\r\n<meta property=\"og:description\" content=\"EUR\/USD moved sideways along the 0.9700 horizon as markets waited for the release of 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