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May 2016

Better than expected US data releases

Published: Tuesday 17 May 2016

Overall a better than expected US data releases, figures across the board were either in line with expectation or better.  In particular the cost of living the US climbed in April, an indication that inflation may be picking up towards Federal Reserve’s goal. An increase of 0.4 percent, the biggest gain since February 2013 was then followed by a 0.1% increase in March. On the back of this EUR/USD saw some volatility this afternoon but is back in the range before the releases.
Furthermore, Sterling is firm today in spite of weak inflation data. Brexit Telegraph poll puts Leave Camp ahead as it indicated that 55% of respondents will vote to stay in EU compared to 40%. Markets await the ECB non-monetary policy meeting and Eurozone CPI tomorrow alongside the FOMC minutes tomorrow evening. 

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