Source: ForexYard
Shortly after the publication of euro zone CPI data, the US published its core and nominal readings of the same reports. The core data came in as forecast, with 0.2% growth, while the nominal reading outpaced forecasts for a 0.2% expansion and came in at 0.4% instead.
The safe-haven US dollar (USD) was seen trading moderately lower Thursday following these data releases since most of today’s numbers supported higher risk taking. Consumer inflation is a key level behind the engine of growth making today’s CPI numbers a positive step for both Europe and the United States at a time when many economists are discussing the possibility of a double-dip recession.
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