EUR/USD fell today, but the decline was small. The market sentiment was risk-negative after US President Donald Trump signaled at yesterday’s speech that he may increase tariffs on Chinese imports even further. Today’s testimony of Federal Reserve Chairman Jerome Powell was considered hawkish as he made positive remarks about the state of the US economy, though he also mentioned that downside risks persist.
US CPI rose 0.4% in October on a seasonally adjusted basis, exceeding the median forecast of a 0.3% increase. The index showed no change in September. (Event A on the chart.)
Treasury budget logged a surplus of $134.5 billion in October, beating the consensus forecast of a $131.0 billion surplus. The budget posted a deficit of $82.8 billion in September. (Event B on the chart.)
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