The euro has slightly risen in the EUR / USD pair on a background of uncertain economic statistics from the US. Consumer prices in the country rose in annual terms by 1.1% in April, monthly – by 0.4%. There were expectations of the annual inflation at level 1.1% and monthly – 0.3% on the Market. The figures for core inflation went along with expectations: on a monthly basis – 0.2%, while in annual terms at the level of 2.1%. Energy prices rose by 3.4% in April, and food by 0.2%. The monthly rise in energy prices was the highest since 2013, which is caused by the increase in gasoline prices by 8.1%.
EUR/USD technical analysis and forecast on May 18
Now traders focus has shifted to the speech of the US Fed representatives: Dennis Lockhart, John Williams and Robert Kaplan.
The dollar was fixed below the level of 1.1350, the correction for the ascending channel’s lower border is still getting on. The RSI is pointed up, indicating a possible growth of the euro towards 1.1370. Thus, the EUR / USD forecast for 18/05/2016 assumes the resumption of growth of the dollar after a short correction.
