EUR/USD closer to 1.0700 after EMU’s CPI

The single currency paid no attention to the release of EMU’s CPI figures, with EUR/USD advancing further to the boundaries of 1.0700 the figure.

EUR/USD ignored CPI

The pair has practically ignored today’s preliminary figures of the inflation in the euro area, where headline consumer prices are expected to have risen at an annualized 1.5% during the month of March. Prices stripping Food and Energy costs are seen gaining 0.7% over the last twelve months.

Spot did not reacted despite both prints have come in short of expectations, severing at the same time the recent up trend of prices in the region. The prints, however, reinforced the ECB view that the underlying inflation trends stay fragile.

On the USD-side, inflation figures tracked by the PCE are due followed by Consumer Income/Spending, the Chicago PMI and the final Reuters/Michigan results for the current month.

Additionally, Minneapolis Fed N.Kashkari (voter, dovish) and St. Louis Fed J.Bullard (2019 voter, centrist) are also due to speak.

EUR/USD levels to watch

At the moment the pair is gaining 0.13% at 1.0690 and a break above 1.0709 (20-day sma) would target 1.0772 (high Mar.30) en route to 1.0827 (high Mar.29). On the other hand, the immediate support aligns at 1.0669 (low Mar.30) followed by 1.0626 (100-day sma) and finally 1.0597 (low Mar.14).