While the April CPI report was expected by many Forex traders to improve the dollar positions and helped greenback gain before the actual release, disappointing CPI reading pushed EUR/USD up from its daily lows and its now trading almost without any loss (1.5459 currently with an open rate at 1.5465).
CPI (all items) was at 0.2% in April thats below the March value (0.3%) and the average market forecast (also 0.3%). Core CPI (except energy and food prices) was at 0.1% in April also below the March value (0.2%) and the forecast expectations (0.2%).
Crude oil inventories increased insignificantly last week. Energy Information Administration reported a 200 thousand barrels growth after more than 5.6 million barrels gain a week ago.
