EUR/USD rallied today, accelerating its rise after US inflation missed forecasts. While the currency trimmed gains by the session’s end, it still closed far above the opening level.
US CPI rose 0.3% in April, while analysts had expected the same 0.4% rate of growth as in March. (Event A on the chart.)
Treasury budget turned from a deficit of $146.9 billion in March to a surplus of $160.3 billion in April. That was a total surprise to analysts who had expected the deficit to widen to $165.2 billion. (Event B on the chart.)
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