The EUR/USD pair peaked at 1.0639 during London trading hours but stabilized in the 1.0610 price zone ahead of the release of the United States (US)
EUR/USD Current Price: 1.0586 The US Consumer Price Index rose in September by more than anticipated. US government bond yields surged, boosting the American currency. EUR/USD gains bearish traction and could test 1.0500 in the near term. Consumer Price Index . The market sentiment was generally positive, with stock markets posting substantial gains and government bond yields extending their weekly slides before the announcement. Finally, the US reported that the inflation was up by 0.
Following data releases, US government bond yields ticked north, reflecting investors’ concerns, while Wall Street futures shed some ground. As a result, the EUR/USD pair fell to the 1.0570 price zone, losing its positive stance. EUR/USD short-term technical outlook The daily chart for the EUR/USD pair suggests the decline will continue, as the pair is sliding through a bearish 20 Simple Moving Average .
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