The inflation hero in Germany remained stable at 0.8% yoy in April while the EUR / USD pair is under sales pressure this Tuesday, trading below the 1.0800 level, reports FXSTreet chief analyst Valeria Bednarik.
“Germany released its inflation figures in April, with a monthly CPI up 0.4% and an annual printed reading of 0.8%, meeting market expectations. Wholesale trade Price indexhowever, plunged 3.5% from the previous year. ”
“The United States has just released the initial jobless claims for the week ended May 8, which resulted in $ 2.98 million, worse than the 2.5 million expected.”
“EUR / USD is at the lower end of its last range and further slips are expected once below 1.0760.”
“The technical indicators have turned south, the momentum crossing its center line and the RSI heading firmly down to around 38, in line with further declines to come.”